a cheap loan needed ,???, page-25

Miles/Goblin,



I found the best way for me was to salary sacrifice and run the cars at 25,000 kms pa (my partner and I do 50 between us. Her 12 me 38) each.11%fbt.
Run a 3 year novated lease over 2 new vehicles and share evenly the running.
One is a comapny car which by novating we reduce capital off our books. The other by salary sacrificing I get the benefit of pre tax running costs and no GST.
Balloon at the end of 3 years is 46.88% (a tax ruling I believe) which gives me the option of purchase or trade or re lease with vehicles having only travelled around 75,000 k's.So I can buy my MG for $23,900 plus GST in 3 years if I think the car is worth that much or more.
Made good sense to me but couldn't speak to my tax guy about it. I had him too busy helping me with some rental property issues. Worth their weight in gold those tax advisors I reckon :)

cheers

debono