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Taxation on car

petscul · 2006-11-14 11:46:09

Recently I've been offered a job and part of my package will include my new company taking over the repayment of my loan. I will remain the owner of the car. The sum of the loan will be 5000. Not sure if it will be paid in one lump sum or on monthly/weekly basis. My question is what type of tax will i be subjected to from…

14-11-2006 11:46am

#1

petscul

Closed Accounts Posts: 12 ✭

Join Date: November 2006

Posts: 5

Recently I've been offered a job and part of my package will include my new company taking over the repayment of my loan. I will remain the owner of the car.

The sum of the loan will be 5000. Not sure if it will be paid in one lump sum or on monthly/weekly basis.

My question is what type of tax will i be subjected to from receiving this payment.

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Comments

#2 14-11-2006 6:42pm

Nuttzz

Registered Users, Registered Users 2 Posts: 3,784 ✭✭✭

Join Date: September 2003

Posts: 3543

get them to pay you a mileage expense instead, it will save you any tax at all e.g. 75c a mile google civil service mileage rates to see what you can claim tax free

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#3 23-11-2006 10:15pm

RainyDay

Closed Accounts Posts: 6,925 ✭✭✭

Join Date: May 2002

Posts: 6830

Revenue will only permit mileage expenses for travel on company business. They can and will look for detailed travel logs to support every claim.

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