Geekzone: technology news, blogs, forums
Guest
Welcome Guest.
You haven't logged in yet. If you don't have an account you can register now.




453 posts

Ultimate Geek
+1 received by user: 27


Topic # 55965 11-Jan-2010 16:37
Send private message

Hey Guys


Starting a new job next week which comes with a vehicle allowance, but I can't find any info on how this is normally taxed. 


I've managed to track down some info that suggests that it would be considered a non-taxable allowance, but I also remember a friend saying that when they had an allowance it was taxed at a stupid rate.


Payrol for the company is done through a third party company and it's proving difficult to get a traight answer. Just wondering if anyone has had any experience with this sort of thing.


Cheers

Create new topic
BDFL - Memuneh
59054 posts

Uber Geek
+1 received by user: 10338

Administrator
Trusted
Geekzone
Subscriber

  Reply # 289011 11-Jan-2010 16:39
Send private message

I left my previous job three years ago (doing Geekzone only since) but I had a car allowance (and petrol and parking) for years... It was taxed at the standard rates.





116 posts

Master Geek
+1 received by user: 5


  Reply # 289022 11-Jan-2010 17:03
Send private message

Same as Mauricio.... :(

I'm paid out of Oz but NZ tax rules still apply.

 
 
 
 


60 posts

Master Geek


  Reply # 289044 11-Jan-2010 18:14
Send private message

I am lucky enough to just put in a claim expense form for my travel, parking etc - I am reimbursed the full amount just like the money was taken from petty cash, so im not out of pocket at all and there is no tax on it :)

60 posts

Master Geek


  Reply # 289045 11-Jan-2010 18:15
Send private message

However - if you do a lot of travel then it isn't convenient to log all travel time between jobs so usually a vehicle allowance is a better way to go - sometimes you win and sometimes you don't.

1200 posts

Uber Geek
+1 received by user: 3

Trusted

  Reply # 289064 11-Jan-2010 19:06
Send private message

phillw: I am lucky enough to just put in a claim expense form for my travel, parking etc - I am reimbursed the full amount just like the money was taken from petty cash, so im not out of pocket at all and there is no tax on it :)


Actually there is still tax on it, you are paying around 35%-45%, you just don't notice it. :) Let me explain, if you had a company registered for your car then you don't have to have (20%-33%) of your money taxed as PAYE, then you can claim back the GST (12.5%) as it's a expense your company incurrs.

So in effect you could buy twice as much if you run it all through a company. Not that I'm saying you do that, it's a lot of paperwork, but for some people it's worth it.





Tyler - Parnell Geek - iPhone 3G - Lenovo X301 - Kaseya - Great Western Steak House, these are some of my favourite things.



453 posts

Ultimate Geek
+1 received by user: 27


  Reply # 289081 11-Jan-2010 20:10
Send private message

Thanks guys - appreciate all the info. You'd think it would be easy to find this sort of thing out...

Create new topic



Twitter »

Follow us to receive Twitter updates when new discussions are posted in our forums:



Follow us to receive Twitter updates when news items and blogs are posted in our frontpage:



Follow us to receive Twitter updates when tech item prices are listed in our price comparison site:





News »

UFB killer app: Speed
Posted 17-Nov-2017 17:01


The case for RSS — MacSparky
Posted 13-Nov-2017 14:35


WordPress and Indieweb: Take control of your online presence — 6:30 GridAKL Nov 30
Posted 11-Nov-2017 13:43


Chorus reveals technology upgrade for schools, students
Posted 10-Nov-2017 10:28


Vodafone says Internet of Things (IoT) crucial for digital transformation
Posted 10-Nov-2017 10:06


Police and Facebook launch AMBER Alerts system in NZ
Posted 9-Nov-2017 10:49


Amazon debuts Fire TV Stick Basic Edition in over 100 new countries
Posted 8-Nov-2017 05:34


Vodafone VoIP transition to start this month
Posted 7-Nov-2017 12:33


Spark enhances IoT network capability
Posted 7-Nov-2017 11:33


Vocus NZ sale and broadband competition
Posted 6-Nov-2017 14:36


Hawaiki reaches key milestone in landmark deep-sea fibre project
Posted 4-Nov-2017 13:53


Countdown launches new proximity online shopping app
Posted 4-Nov-2017 13:50


Nokia 3310 to be available through Spark New Zealand
Posted 4-Nov-2017 13:31


Nest launches in New Zealand
Posted 4-Nov-2017 12:31


Active wholesale as Chorus tackles wireless challenge
Posted 3-Nov-2017 10:55



Geekzone Live »

Try automatic live updates from Geekzone directly in your browser, without refreshing the page, with Geekzone Live now.



Are you subscribed to our RSS feed? You can download the latest headlines and summaries from our stories directly to your computer or smartphone by using a feed reader.

Alternatively, you can receive a daily email with Geekzone updates.