Discussion in 'General Investing Discussion' started by eki, 13th Dec, 2007.
As trustee of my family trust can I buy a car and claim the expenses?
If you do wave goodbye to most of your asset protection for the trust. Cars are high risk unfortunatly.
The answer is yes you can, but why would you?
Nick's the expert here but you'd need to use the car predominantly for business purposes (i.e. a business run by the trust) and there would be potential fringe benefits tax issues if you got a nice car.
The point about asset protection is also a good one to raise. Whilst insurance is helpful, I wouldn't mix the car with passive investment assets.
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