[happy1]

Hi Brooksey,
I think that was a wise decision, and I don't think you would have made any significant profit on it considering the number of hours and expenses you would have had on it.

If it was to keep for yourself, yes then it would been a much better deal.

If it was to fix and sell, then you would have ended up paying rego transfer, stamp duty, paint patch up, surprise expenses, and the risk of not selling it quickly therefore having to dump the price to get rid of it. Selling an unlicensed car is near impossible.

The other thing is that the tax man is getting more clever about car sale profit also. ATO wants us to believe that they share databases from car registrations to tax office these days. Even if you had lots of expenses with it, as a private person it looks like you had it for a short while, bought it cheap, and sold it for more.

Cheers,