Thanks. I talked with my colleague today and took down what he said here just in case others need a basic picture of it.
1. Basically the benefits that you could get related with car include Fringe Benefit Tax(FBT) and tax deduction.
2. You need to calculate and report FBT only in the year that you buy the car.
3. You can claim tax deduction for the depreciation, gas and car maintenance expenses all through the life of the car.