With the financial year in full swing, we often get asked about buying new equipment or assets for your business.
Our answer is always shaped around your business and your cash flow.
We don’t agree with just buying a new asset to get the Governements new immediate write-off.
However, having said that, if you require that new equipment, or it has become time to replace your equipment, now is the perfect time to replace it.
The Government has offered very generous tax deductions for small businesses (t/o under $2m).
You can now write-off assets costing under $6,500 immediately, resulting in a tax deduction of $6,500 instead of the usual $1,218.75 in the first year.
To sum up, this financial year is a great time to buy much needed new equipment or replace that very old equipment.
Should you need anymore advice on this, please feel free to contact myself.
