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All Records Broken!
June 2012 was the best ever month for vehicle sales – 112,566 vehicles sold. Whilst June is usually a pretty good sales month this is exceptional, and shows a massive increase of 17.1 percent over last June. Whilst we can expect some improvements over a year ago (after effects of supply difficultues) the strength of these improvements come as a big surprise.
The big winners were hybrid vehicles (petrol/ electric cars such as the Toyota Prius), up 84 percent on a year ago, and SUV’s, up 33 per cent.
For the third month in a row the biggest selling individual vehicle was the Toyota Hi Lux, followed by the ever-popular Mazda3.
The Toyota HiLux commands the top spot due to very strong sales into the mining industry in Queensland and Western Australia.
The biggest selling brand was (as usual) Toyota, followed by Mazda.
The most notable loser was probably the iconic Holden Commodore that has gradually lost favour over the past few years and now languishes in eighth place (the lowliest ever) in the popularity stakes.
Small Business $5,000 Tax Write-Off on New Cars
The 2011/2012 budget announced a new tax deductions for small businesses buying new motor vehicles from 1st July 2012.
In simple terms any new vehicles purchased will get an immediate $5,000 tax write-off above and beyond the usual depreciation schedule in the first year (1st July 2012 through to 30 June 2013).
For example:
A small business purchases a new vehicle for $40,000 in the tax year 2012-2013.
Normally the business could depreciate/write-off 15% in the first year – $6,000 – however with this new legislation, the business will be able to claim an immediate $5,000 plus 15% of the remaining portionof $35,000 (being the purchase price less the up front write off). So in this case the business owner will be able to write off $5,250+$5,000=$10,250 in the first year.
This equates to an extra write off of $4,250 (normally $6,000 would be the total deduction, being 15% of $40,000) which equates to a net tax benefit of $1,275 in 2013-2014.
This incentive is estimated to cost around $350 million over two years.
For any queries or information on how it works, please contact a Private Fleet consultant on 1300 303 181
World's Weirdest Cars- Have Your Say
Over the century plus of mass car production some real oddities have emerged. We have expressed our thoughts on the World’s Weirdest Production Cars here.
Our list is far from exhaustive so you may agree with some, strongly disagree with others, and have some strikingly odd examples that you think should have been included.
We’d like to have your thoughts that we can publish in a future newsletter, so please add your comments below.
Novated Lease Infographic
A lot of people have asked us to try and put together a simple explanation on what a Novated Lease entails – probably because we rank #1 in Google for the term. So our friends at Prestige Performance Centre were kind enough to put together an infographic for us. Hope you like 🙂
Level 2, 9 Help Street