Vans and Campers tax Deductible Assets

[Rodt]

Came across this article in regards to vans, CTs etc can be tax deductible assets. It basically involves listing them for hire (Camplify was the org being interviewed) and it doesn't matter if they are actually hired out or not just if they are listed as available.

Obviously comes with the usual risks of hiring but i found it interesting as it appears to be the same tax benefits as owning an investment home ie: lease interest, insurances, maintenance, storage costs etc.

The usual statement applies with this. I have no interest of any sort in Camplify or any other hire organisation but thought it may be of interest to some out there. Also obviously people need to seek their own financial / tax advice

http://campertrailerreview.com.au/make-camper-trailer-tax-deductible/?utm_source=Win+A+Blue+Tongue+Camper&utm_campaign=b3ba3697c2-EMAIL_CAMPAIGN_2018_07_18_07_14_COPY_01&utm_medium=email&utm_term=0_85d0b17e6d-b3ba3697c2-137207193

[Spada]

Had a camper trailer salesman suggest to me once that instead of writing "model XYZ camper trailer" on the invoice, he could write "mobile site office" instead.

Anyone know a good accountant 

[GeoffA]

Yeah? Try getting it past the ATO......let us know how you go....

[CorzaDry]

At the Brisbane show a number of salesman were saying this to my wife and I so they are using it as a tactic to sell vans for sure.

[#jonesy]

In reality you can claim anything. I've heard some very dodgy stuff at work that some accountants have claimed.  It is only when you get audited is when it is certain.

Can't see "hiring your camper"  passing an audit without any actual hiring being done. I reckon you might be able to claim a percentage of hire vs rental use.
Otherwise I might "rent" my house,  car .....

[chester ver2.0]

Came across this article in regards to vans, CTs etc can be tax deductible assets. It basically involves listing them for hire (Camplify was the org being interviewed) and it doesn't matter if they are actually hired out or not just if they are listed as available.

Obviously comes with the usual risks of hiring but i found it interesting as it appears to be the same tax benefits as owning an investment home ie: lease interest, insurances, maintenance, storage costs etc.

The usual statement applies with this. I have no interest of any sort in Camplify or any other hire organisation but thought it may be of interest to some out there. Also obviously people need to seek their own financial / tax advice

http://campertrailerreview.com.au/make-camper-trailer-tax-deductible/?utm_source=Win+A+Blue+Tongue+Camper&utm_campaign=b3ba3697c2-EMAIL_CAMPAIGN_2018_07_18_07_14_COPY_01&utm_medium=email&utm_term=0_85d0b17e6d-b3ba3697c2-137207193

Yeah right... by the time your register your hire business, take out extra insurance for the van and add in an hourly rate for your time to maintain all of this your tax break is out the window

[Bird]

Didnt someone here claim theirs years ago as a mobile office? There was a well thought out thread on it at the time

[achjimmy]

I'd imagine (and am no tax genius ) that if you were running a business from your van as you traveled around you'd be able to claim a portion like you can a home office ? Personally like home offices don't think it'd be worth it .

[BaseCamp]

You can do it, relatively easily if you and van are traveling from town to town doing paid income...

Fruit picking; repairs and maintenance services; sign writing; etc etc... 

Or selling at local markets or carnivals, etc - provided you have records of stock purchases and sales...   (supplier invoices and bank deposits) ...  matching the time and geographic location you are in - for cash deposits and mobile eftpos sales, I would reckon..

As well as - you have to be traveling in a circle, moving on to the next destination - not backtracking, or going home in between "holidays"..

It would be best if your tug had paid registration as a commercial vehicle; and your van was insured for commercial use.....   Both these things cost more pa to do....

Note - I am not an accountant or whatever; the the above does not constitute advice whatsoever..

Sent from my SM-G950F using Tapatalk

[Rodt]

Yeah right... by the time your register your hire business, take out extra insurance for the van and add in an hourly rate for your time to maintain all of this your tax break is out the window

Mate you are possibly right. As said only heard it through the article and the link so who knows for sure. They did say though that if it is just the one then you don't need to be registered as a business. Everything they said appeared to align with what occurs with an investment property and you don't have to have a tenant there to be classed as an investment.

Anyway as said everyone needs to get their own advice and go from there if they proceed. Still an interesting concept though

Wonder if I could do this with some of my self managed super fund 

[rossm]

Without reading the article I would hazard a guess that the people promoting this are either trying to sell camper trailers or are accountants looking to set up the structure that will facilitate the process or both.


Reminds me of the real estate "investment plans" where the advisor, the real estate agent, the vendor, the mortgage broker,  the settlement agent/solicitor etc are all working out of the same office.   

[Nomad]

Reminds me of the real estate "investment plans" where the advisor, the real estate agent, the vendor, the mortgage broker,  the settlement agent/solicitor etc are all working out of the same office.   

I used to love crashing those guys sales when I was a valuer for the banks.

Theres been a more than a few "investors" caught out by not renting out their holiday homes even though their advertised on AirBnB, the local agent etc etc. I wouldn't think it would take the ATO more than 3 seconds to catch onto that little scam.

[Troopy_03]

Mate you are possibly right. As said only heard it through the article and the link so who knows for sure. They did say though that if it is just the one then you don't need to be registered as a business. Everything they said appeared to align with what occurs with an investment property and you don't have to have a tenant there to be classed as an investment.

Anyway as said everyone needs to get their own advice and go from there if they proceed. Still an interesting concept though

Wonder if I could do this with some of my self managed super fund

You'd do better to get someone to manage your super fund for you... LOL

[chester ver2.0]

You'd do better to get someone to manage your super fund for you... LOL

Dont even get me started on people buying depreciating assets as part of self managed super funds or houses that they let their kids live in rent free and then just rely on the capital gains at the end