Business Rego or Private?

[atcmatt]

G'day, my ute is currently registered under my name and for private use. I am a sole trader carpenter and pay tax and GST.

Should my d22 be registered private or business? I use it to get from job to job, about 40% and about 60% private (kms wise).

Last time I went to insure it a few insurers refused to cover me as it is a work vehicle? Even though it's used for private use also and registered private, I think I was given a bum steer here and payed a higher premium for the year. I'm going to ditch AAMI. They dropped the value of my car from 19,000 to 13,500. With the premium only being 100 less a year, gonna tell them to shove it.

Any advice would be greatly appreciated.

Matt.

 

[happy john]

You would have to check the legislation in NSW, I have been a sole trader for 19 years in Qld and all my vehicles in that time have been registered as commercial. In you situation you should be fine with private rego, but if you have your tools insured and/or tow a trailer it will fall under the business category.

 

[leo d40]

I have mine registered for business use so I can claim the GST back. Mine is probably 80% business and 20% personal, my accountant said it doesn't matter as it's mainly business use. As my wife also has a car, it is registered as a personal vehicle, this is the way I can claim my ute as 100% use.

 

[atcmatt]

Thanks for the replies. I will have to call my accountant on Monday and sort out what to do. I guess the way it is registered also reflects on your comprehensive policy also.