01/06/2020
Don’t miss out on a $150,000 write off – you have until 30 June, 2020
It’s time to take advantage of vehicle dealership sales and write off 100% of the purchase before the end of the financial year..
Earlier this year, the government has expanded their instant asset write off program. Allowing SMEs to instantly write off assets before 30 June, 2020.
Since the outbreak of COVID-19, that figure has risen from $30,000 to $150,000. This will help support your business survive the next few months. You can choose to deduct a single asset, or multiple if you wish, as long as each asset costs less than $150,000.
Businesses with annual turnover of up to $500 million (up from $50 million) qualify for the tax benefit. The proposal applies from 12 March 2020 until 30 June 2020, so any assets (whether new or used) purchased and installed within this timeframe can be deducted. We work closely with GK Finance who can help you finance the purchase with some amazing Asset Finance rates, from as low as 3.99% p.a. –
GK Finance understand business, the value of time and the need to move fast and efficiently.
Some items businesses can typically finance and write-off under the scheme include:
Work vehicles
Plant and Equipment
Technology
Office fit-outs and furniture
Solar
