Now is the time to borrow to buy a car or ute

Tax changes mean sole traders are eligible for a refund of up to $8500 on a $20,000 work vehicle. Small businesses can pocket up to $5400.

Companies with a turnover less than $2 million are eligible for a tax refund of 30 cents in the dollar on $20,000 purchases. Private retail buyers do not benefit from this scheme.

The industry is expecting a boom in car and ute sales in June. There are plenty of great car and personal loan deals now available on infochoice.com.au.

Source: Courier Mail

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