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Toymods » General Car Talk » Car Sponsorship, how can a company claim back? Show: Today's Posts  :: Show Polls  Email to friend

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M.J.H Forums Junkie Location: Newcastle Registered: April 2003	Re: Car Sponsorship, how can a company claim back? Tue, 17 May 2005 05:53 Okay i'm no accountant but i think it would work something like this. You register a buissness name like "nico racing" or something,your dads company sponsers said buissness for say $3500 a year and claims that as a tax deduction. Your buissness has then earnt $3500 but you don't have to pay tax on that as it is taxed at the same rate as income tax for a sole trader.That is the first $6000 or whatever it is is tax free plus you can claim the work done to the car. At least thats the way i see how it would work/be resolved for both of you but someone can correct me if i'm wrong. EDIT Always get professinal advice before doing anything as the above is only how i see it would work. [Updated on: Tue, 17 May 2005 05:57] [Report message to a moderator]

	Subject	Poster	Date
	Car Sponsorship, how can a company claim back?	nico	Tue, 17 May 2005 01:43
	Re: Car Sponsorship, how can a company claim back?	M.J.H	Tue, 17 May 2005 05:53
	Re: Car Sponsorship, how can a company claim back?	nico	Mon, 23 May 2005 00:52
	Re: Car Sponsorship, how can a company claim back?	Corona RT142	Tue, 17 May 2005 06:00
	Re: Car Sponsorship, how can a company claim back?	Chris Davey	Mon, 23 May 2005 01:15

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