Purchase of a luxury car

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Purchase of a luxury car

Hi there

 

We have purchased a luxury car with vehicle price $64000 plus extras of $4894.  (All excluding gst).

 

On top of this is - dealer delivery, rego fees, CTP insurance and luxury car tax.  Also stamp duty.

 

I understand there is the vehicle cap.  How do i enter the above in myob.  Also - for accounting purposes is the dealer delivery, rego and CTP, luxury car tax and stamp duty considered as expenses or as part of the value of the asset?

 

Thanks for your help. 

 

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Re: Purchase of a luxury car

Hi @MC73.,

 

Thank you for the post!

 

If you were unsure of how to enter in a transaction, I recommend speaking with your accountant. 

 

Thank you.

 

**If this response has been useful, please click the "Accept As Solution" button to help other users find this information.**

Cheers,
Gayathri

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