Gov't paying for your new car

[knittingchamp]

You donâ€t get 30% off the price, you get to claim a one off 30% depreciation . So if your business makes a $60k profit for the year you are be taxed at 30% for what ever profit you make which is $18k. Say you buy a $30k vehicle and you take advantage of this one off offer from the government you can claim your 30% deprecation on the vehicle ($9k) bringing down your yearly profit to $51k so you only pay $15,300, difference or your gain will be $2700. It is really 30% of 30% which roughly works out at just under 10% of the purchase price.