Hello everyone,
I started a secondary occupation in 2022.
Does anyone know if and how I can depreciate a second-hand car as an investment with purchases of 06/2018, when the car was first registered in 02/2017? Standard, a second-hand car is depreciated over 3 years. Is there a way to depreciate it over 6 years, for example, and what additional information should I provide as a reason?
Thanks in advance!
Filip
To be honest, I wouldn't lose any sleep over it if you want to extend the depreciation period.
Certainly not for a car. It is perfectly justifiable that you want to drive that second-hand car for another 6 years with the best of intentions. I think they depreciate it over 3 years standard, just to set an absolute minimum (i.e. 3 years).
But extending it further doesn't seem like a problem to me; there are perfectly good second-hand cars out there that could easily last another ten years.
Depreciating for longer does indeed seem to be rarely a problem. I think the guidelines provided by the tax authorities should be considered a minimum term.
You can find these terms in step 5 of an expense, if you choose investment in step 4. Then click on the info icon in step 5.
Kind regards,
Els
You really should try it out for yourself. Even if you don’t have a company number yet, you can already go ahead.
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