Hubby is getting his work take taken away and they are replacing this with a car allowance. We don’t have enough money to buy a car out right and need to get a car loan.
We are going to lost some money paying interest on the car loan but DH thinking that he should be able to claim the interest on tax because it’s a work car/work related expense.
Does anyone know how it works in relation to what you can claim on tax when you get a car allowance and need to get a loan?
Any input/info would be appreciated.