$15k per round i reckon without damage plus $50k at years end on replacing parts for the following season. porsche want to start next year so the 2011 car can go 3 seasons before the new shape version cup car is released. still cheaper than a divorce i say, and way more fun.
When you consider that 6 tyres costs $4500, testing, accomodation and transport, it would be a min of $20 - $25,000 Per round. The best away around it is to get a decent sponsor!
Lots of rules about that. Playing with fire if it isn't a genuine enterprise. Sell the car for anything over the depreciated value and it's taxable. I didn't bother after looking into it.
Some actually do this quite well. you just have to make sure that your company features racing on National TV.
Patrick Long Compares GT3 RSR to Road GT3! http://www.roadandtrack.com/racing/video/porsche-911-gt3-vs-gt3-rsr-the-ultimate-gt-showdown
The individuals who do it well run genuine race teams in my observation. One condition was that you had to attend at least one televised event a year. You also had to have a genuine sponsor that wasn't related in any way to your own business. There were others; but it's been a while since I looked at it.
Regarding the 2nd part, it's easy - Just get one of the other guys you race against to sponsor your car and vice versa!
Agree that there are ways to get it done; but the ATO will always ask the question " is this a genuine enterprise set up with the aim of earning taxable income? " Running a never ending loss making enterprise is going to end badly for your wider organisation. Just not worth the trouble as far as I am concerned.
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