Tax
Company car, novated, and CGT
The vehicle tool and the business tool now talk. Compare private vs company vs novated on the same car, then run a clean Australian CGT estimate on shares, a business, or a car.
Vehicle overlay
Private vs company vs novated
| Entity | Monthly after tax | True cost after tax | GST credit | FBT (est.) |
|---|---|---|---|---|
| private | $2,007 | $55,741 | $0 | $0 |
| company | $2,007 | $48,649 | $7,273 | $3,129 |
| novated | $1,264 | $63,563 | $0 | $7,822 |
Company car: GST credit on purchase, interest deductible on the logbook business %, FBT on private use (statutory method, estimate).
CGT
Sale of shares, business or car
- Gain
- $120,000
- Taxable gain
- $60,000
- Tax
- $28,200
- After-tax proceeds
- $191,800
Individual, held more than 12 months: 50% CGT discount applied.