2015 BUDGET UPDATE: Small Business Can Write Off Asset Purchases Up to $20,000
If you are thinking of buying that new piece of plant & equipment, maybe some new computers for your office, or upgrading your office furniture now is the time to be looking. All qualifying asset purchases completed by 30 June qualify for an immediate write off this tax year. This means if you are trading through a company you stand to save up to $6,000 in tax, other entities can save even more depending on the relevant marginal tax rates.
Need funding for the purchases? No problem either, use our FREE in house finance service and get loan approval within days.
While we applaud this incentive we also wish to exercise a bit of balance. Cash is king and while you may be able to receive a tax reduction in the current year your cash flow will ultimately determine whether such investment is affordable for your business. In that respect we advise caution - and of course a robust cash budget which we can help you put together!
For more information call us on (07) 54391600 to upgrade your business and save on your 2015 tax bill.