We understand that saving money and paying less tax is important to everyone in business with the end of the 2019 EOFY bargains from suppliers and dealers to move stock in the final days of FY 19 are being advertised everywhere. And, the good news is that there is still time left for us to assist with your last minute finance requirements.
We can arrange finance for just about anything you are purchasing
So don’t hesitate to give me a call to discuss your potential purchase and whether it is an asset that we can finance.
Benefits gained from purchasing new or used assets
Generally new assets will increase business efficiency and reduce maintenance costs. Including the added advantage of a potential reduction in the amount of tax payable as a result.
The added advantage of the Instant Asset Write Off
Businesses can claim a deduction of up to $30,000 (Ex GST) for the business portion of each asset (new or second hand), purchased and first used or installed ready for use from 7.30pm (AEDT) on 2 April 2019 until 30 June 2020. Additionally, businesses with a turnover of up to $10 million can also claim a deduction for each asset purchased and first used or installed ready for use, up to the following thresholds: