Latest news with #utes
RNZ News
13 hours ago
- Automotive
- RNZ News
New ute owners warned of looming 'tax grenade'
Under the change, farmers with a mixed used farm ute costing $70,000 will be hit with an annual FBT bill of $6370. Photo: Sergio Rota/ Unsplash Farmers and tradies buying utes under the government's Investment Boost initiative will be hit by a "tax grenade" in the form of a fringe benefit tax (FBT), according to an expert. Findex tax advisory partner Craig Macalister said the repeal of a work-related vehicle FBT exemption for mixed private and business use in the government's latest Budget will result in tax implications for people who use their utes for business. Under the change, farmers with a mixed used farm ute costing $70,000 will be hit with an annual FBT bill of $6370, at the proposed 26 percent rate for petrol and diesel vehicles. "Farmers are buying vehicles at Fieldays, looking forward to a reduced cost thanks to depreciation deductibility, but oblivious to the tax grenade coming their way in 12 months," Macalister said. "Worse still, any vehicle over $80,000 - such as a $75,000 ute with $6000 in extras - will be classified as 100 percent taxable, resulting in a staggering $21,060 in FBT per year." Macalister said consultation on the tax changes had not been given inadequate consideration, resulting in a policy that over-taxed essential business assets. "In our view, the use of the current FBT exemption strikes the right balance for work-related vehicles. Scrapping it will hurt farmers and other industries reliant on utility vehicles," he said. "These utes are not perks or 'Remuera tractors' - they're essential tools for carrying equipment, personnel and of course dogs on and off the farm. "Yet, the IRD seems locked in a paradigm that views any provided vehicle as a perk to be taxed, unless it's an emergency vehicle." Sign up for Ngā Pitopito Kōrero, a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
News.com.au
2 days ago
- Automotive
- News.com.au
Best EOFY 2025 ute sales in Australia
If there's one thing Aussie drivers love more than a ute, it's a bargain. Thankfully, both are available this month. There are strong end of financial year deals for utes and pick-ups in Australia, whether you're shopping for a household name like the Ford Ranger or shopping for emerging models from new brands. UTES If there's one thing Aussie drivers love more than a ute, it's a bargain. Thankfully, both are available this month. Ford Ranger: Australia's best-selling car is on sale in 2.0-litre Wildtrak trim from $70,000 drive-away, which represents a discount of about $7000. Volkswagen Amarok: VW has slashed the price of the Amarok – the Ranger's mechanical twin – by up to $9000, offering Core models for $53,990 drive-away, and high-end Aventura models for $79,990 drive-away. Isuzu D-Max: Isuzu is doing deals on the popular D-Max ute, with the all-wheel-drive X-Terrain currently available for $68,990 drive-away, a discount of more than $8000. Mazda BT-50: The Isuzu's mechanical twin in the Mazda BT-50 SP is a little cheaper at $67,990 drive-away, about $5000 less than its regular retail price. Jeep Gladiator: This tough-looking, work-ready version of the Wrangler four-wheel-drive is on sale for $76,000 drive-away in Rucon trim – a staggering $18,000 less than what the same car cost a couple of years ago. GWM Cannon: Folks looking for something green should test-drive the GWM Cannon Alpha Ultra hybrid ute available for $55,990 drive-away, $4000 less than the brand's recent offer for 2024 models, and $9000 less than the car cost a year ago. LDV T60: Buyers on a budget could consider the LDV T60, which starts from $36,990 drive-away for ABN holders, a discount of $4000 – though it only applies to MY23 models. KGM Ssangyong: This Korean marque is rebranding to KGM, and existing Musso stock with the old logo has been discounted by $4000, which means you can snap up a new ute for $36,000 drive-away. That's sharp buying. RAM 1500: At the other end of the spectrum, the last V8-powered RAM 1500 Big Horn examples have been cut by more than $10,000 to $109,950 drive-away. Ineos Quartermaster: Ineos customers who pick up a Quartermaster ute for $118,000 drive-away get $6000 worth of free accessories, including towing hardware, extra switchgear, roof racks and a high-mounted intake for off-roading. Folks who don't love the car can return it within six months and get most of their money back – other than on-road costs and a mileage fee. Nissan Navara: For those looking for a sharp deal on finance, Nissan's 1.9 per cent interest offer on the Navara is hard to beat. BYD Shark 6: BYD is also offering a very competitive 1.99 per cent interest offer on the increasingly popular BYD Shark, the 2024 News Corp car of the year.
