Do you need any equipment or machinery for your small business?
Now would be a great time to buy – if you get it before 30 June, you could potentially use the $30,000 instant asset tax write-off to get money back in your next/ upcoming tax return.
The tax write-off currently applies to new and used vehicles, equipment, technology, machinery, etc. To find out more, visit the ATO website.
How does it work?
A small business can currently claim an immediate tax deduction for the business portion of each asset purchased in FY19 provided:
- The asset cost less than $30,000 (ex GST)
- The business has an aggregated group turnover of less than $10 million
- The asset was first used or installed in the year of claim – before 30 June 2019.
I have access to a variety of lenders with competitive financing options for the purchases.
Call me now to get things organised in time to make your purchases before 30 June. Just let me know your needs.
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Long Property blog content provides general information only and has been prepared without taking into account your objectives, financial situation or needs. We recommend that you consider whether it is appropriate for your circumstances and your full financial situation will need to be reviewed prior to acceptance of any offer or product. Nothing on the Long Property website constitutes legal, tax or financial advice and you should always seek professional advice in relation to your individual circumstances.
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