Buying vs leasing – which one is best for business equipment and plant? How can you figure out the best choice for your situation? When your business needs new plant or equipment, what’s the best choice – buy or lease? The answer will depend on your specific...
How can I claim my vehicle & related expenses? If you have a business (including if you are self-employed), and you use your own car for work purposes, you can claim back some of your vehicle expenses. If you have a car that you only use for business purposes...
If you need a car to operate your business, which is better to purchase a vehicle or lease one? On the one hand, if your business owns the car you’ll have a long-term asset and may qualify for more tax deductions. On the other hand, buying a car is a huge expense and...
What is a Fixed Asset? A fixed asset is something that has a cost of more than $1,000 + GST, and will last more that one year that will help you generate income. It includes things like tools, machinery, computers, office furniture, vehicles, and buildings. You...
