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Mixed Use Assets being targeted

In a bid to save $109m over four years, the government has once again targeted mixed use assets.

If you own a bach, a boat or an aircraft that you sometimes rent out then you’ll now be required to apportion deductions based on actual income earned and private use of the asset, instead of based on the availability to produce income. 

For example if you rented your aircraft for 20 days in a year and used it for 20 days in that year then you will be able to claim a deduction for 50% of general costs associated with the asset.

*Wilco : Tax Budget 2012