Monthly archives: April, 2021

Going from Sole Trader to Company, What to do With the Cars?

Question Hi We have recently restructured the business from a sole trader to a company (shareholder of new company is a discretionary trust) I had a question in relation to the motor vehicles currently owned under the sole trader. It appears that the roll over relief will not be available as the ultimate economic owner …

PSI and Immediate W/off of Vehicle

Question Hi there, I hope this question is appropriate. We have a construction company. The income is Personal services income and doesn’t pass any of the tests. The company bought a Toyota Hilux double cab recently for the business. My question is as follows: Is this company entitled to claim the instant asset write on …

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