You can choose to purchase a vehicle in your personal name or your company’s.
Purchasing a vehicle in a business structure can be a tax-effective strategy as you can claim all of the business-related expenses and depreciation through the business. However, you need to consider Fringe Benefits Tax, as any non-business use needs to be accounted for through a Fringe Benefits Tax reimbursement.
A business accounting consultant can determine the best option tailored to your exact circumstances.