Need new equipment for your business?
Many companies are taking advantage of the temporary full expensing, an extension of the instant asset write off scheme, that allows eligible businesses (any business up to $5 billion turnover) to claim an immediate deduction for the full cost of eligible depreciable assets, of any value, that will be first used or installed by 30 June 2022.
These depreciating assets include new or second-hand (for companies with an aggregated turnover less than $50m) business vehicles, plant equipment, tools and office equipment to name a few. Some of these may be big ticket items that you don’t have the funds to pay for outright, or you don’t want to put a further strain on your cash flow. In which case, equipment finance might be the better option. The good news is that if you require finance to purchase your new asset, in most cases you will still be eligible to claim the immediate deduction as long as it was purchased after 6 October 2020.
Having a broker negotiate equipment finance on your behalf is the smart way to go as they look to save you time, stress and money. Andrew Dalton is our in-house finance expert who will search the whole market to source the right products for you and then negotiate with the lenders on your behalf to facilitate them competing for your business. We offer impartial advice, so we don’t favour one lender over another.
The benefit to Taxpro customers is that you have your finance broker and tax accountant under one roof! In challenging times like this, we work together to ensure you are taking advantage of the Government schemes in place to help decrease your business taxable income and get your business back on track for 2021.
For all equipment loan enquiries, please contact Andrew on 08 9240 7629 or email andrew@taxproaustralia.com.au
For all questions relating to the temporary full expensing scheme, please call Chloe or email admin@taxproaustralia.com.au
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