Taxation Determination TD 2009/13, released on Wednesday 24 June 2009, states that the car limit for the 2009/10 financial year is $57,180 (the same as the previous year). The car limit is used to work out decline in value deductions of certain cars under the income tax law.
Luxury Car Tax Determination LCTD 2009/1, also released Wednesday 24 June 2009, states that the luxury car tax threshold for the 2009/10 financial year is $57,180. It is equal to the car limit and is used to determine if luxury car tax is payable. The Determination also states that the fuel-efficient car limit for the 2009/10 financial year is $75,000.
Hi,
If I have never claimed any depreciation for my car that was sold in 2008, can I claim
the whole amount in 1 lump sum from the year of purchase in 2001 to 2008. If yes,
what is the amount that I can claim.
If selling my car incur capital loss, can I claim for capital loss?
Appreciate your advice.
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