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If you choose car loan to get a new car, the income tax deduction will be limited, only the business use would be allowed.
Given the large amount of car allowance, novated lease might be a good choice as all running costs regardless private or business can be packaged. i.e. no income tax. Certain amount of post tax contribution would be required based on the $150K total income.
Get a lease over shorter period, such as 1 year, to maximise the tax saving. |
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