Tax Planning: Company Car - Less than RM150K

Recently, a friend of mine told me that his brother just changed a new car, NISSAN SYLPHY 2.0 with only RM107K, 2.88% Interest. And, what have came to my mind was the car is very nice and good for company in tax planning. I saw the car in Wangsamaju last week and the car was awesome. As luxury as a Toyota camry.

It is December now, I believe normal basis period of company will be closing its financial year as at December. Next year onwards, it will be near financial year. And, as a director of a controlled company or other private limited company or director in sole proprietorship, it is a good time for you to buy a new car, either at this year end or next financial year.

In tax planning, a new vehicle which is below RM150,000 will be qualify for RM100,000 as capital allowance claimed. Therefore, I have analysed and below are some recommended cars for registered under company name. I will not recommend Proton and Perodua.  All the car that i recommended is of RM100K and above. So, Vios, Yaris, Rush, City, Jazz have been rejected. You may consider it for your employees.

1. Nissan Sylphy 2.0 RM107,000 (Comfort Pack) ; RM112,000 (Luxury Pack)

The following standard features that comes with Nissan Sylphy:
1) Dual SRS Airbags
2) ABS + EBD + Brake Assist
3) Electric Power Steering (EPS)
4) UV green glass
5) Sped sensitive variable intermittent vipers
6) Pre-tensioner seatbelts with Load Limiter
7) Active head restraint system
8) Ripple Control Shock Absorbers
9) Power control and foldable wing mirror
10) Auto-light system
11) Manual headlight aiming control
12) Front fog light
13) Remote keyless entry
14) Immobiliser
15) 4-door speakers and 2 tweeters
16) Single CD-Audio System
17) Glass printed audio antenna
18) Multi-function centre console

Although fitted with 2.0-litre engine, Nissan Sylphy is not a replacement model for the aging Nissan Cefiro. Nissan Sylphy is slotted in the segment between Nissan Cefiro and Nissan Latio, which can be the direct competitor to Honda Civic 2.0 and Mitsubishi Lancer 2.0 and Toyota Altis.

2. Peugeot 407  RM133,888 (Full Spec) 

For more information: http://407.peugeot.com.my/index.html

3. Honda Civic 2.0 RM126,000

Honda Civic, I think you all should know with this car, so it is useless for me to further explain it.

4. Mitsubishi Lancer 2.0 GT RM113,000

The comparison between Mitsubishi Lancer and Toyota Civic is of following: 

(Click to enlarge)

5. Toyota Corolla Altis 1.8G @ Sporty RM121,000

http://www.toyota.com.my/index.aspx?cat=models&sect=altis&subsect=pricespecs

That's all..
If you feel that my post is of useful and meaningful or lack of information or if you have other information to share, kindly drop some comments. Thank you!