Depreciation for Commission Earner
By Marc Sevitz · Updated
Hi TaxTim, I have a lot of questions lined up. I hope its ok. The first one. I am a commission earner and claim back usage of my vehicle for business use. 75%
when calculation deprection over the 5 year straight line method. When does this begin? when I took ownership of the vehicle? or when the vehicle was registered?
2. I bought a vehicle in 2011 and only starting working on commission in 2013. When does my depreciation stop on this vehicle? 2016? or 2018?
when calculation deprection over the 5 year straight line method. When does this begin? when I took ownership of the vehicle? or when the vehicle was registered?
2. I bought a vehicle in 2011 and only starting working on commission in 2013. When does my depreciation stop on this vehicle? 2016? or 2018?
You would be able to depreciate the vehicle from the date you began using it for commission earning purposes. So in 2013. You would need to determine the value of the car on that date, so perhaps call an agent and find out what the value would have been. Then you can use the 5 year method from there.
great. really helps.
also howm any cars can I claim back on at the same time.
i have 3 cars in my name and use one 75%. one 15% . 1 10%.
can I claim on all if I keep a logbook?
also howm any cars can I claim back on at the same time.
i have 3 cars in my name and use one 75%. one 15% . 1 10%.
can I claim on all if I keep a logbook?
Yes you can, but you must have a valid logbook for all of them.