May 03, 2019 by Christine Ling
As an accountant, I know how important cash flow is to businesses. Check out this link for the Updated the Instant Asset Write-off Thresholds.
If your business needs a vehicle, computer or other equipment, for instance, you may get a 100% deduction in the same tax year when you start using them. Always confirm with your accountant before you purchase to understand exactly how the policy will apply to your business.
For most businesses, if you buy a vehicle of $30,000 today, it will be fully deductable for FY2019, instead of being depreciated over the next 5 years. This may reduce your tax bill or even create a refund, which in turn means less cash flow pressure at the next tax payment time.
If this is attractive and you need funding to make the purchase, get in touch now as for a limited time, it is possible to get a small business loan of $5,000 to $300,000 and make no repayments until 1 July 2019*. Turn around 24 hours. Ask me how.
*Fees, T&Cs apply.
