News

Changes to the instant asset write-off scheme for business

Posted on

The instant asset write-off scheme allows eligible businesses to immediately write off, as an expense for tax purposes, new or second-hand asset purchases. For the period 12 March until 31st December 2020, the instant asset write-off has increased as follows: Threshold amount for each asset increased to $150,000 excluding GST (up from $30,000) Eligibility expanded […]

Uncategorized

Want a Pre-Approval?

Posted on

Organising finance for the purchase of equipment can be daunting.  But obtaining a pre-approval takes the stress out of the process, especially when you use a finance broker. A pre-approval sets you in a better position to negotiate with the seller when buying equipment.  Knowing exactly what your budget is before your feet hit the […]

Uncategorized

Businesses get another six months to write off assets

Posted on

The Morrison government has extended the instant asset write-off by another six months to December at an expected cost of $300 million in an effort to prevent a further crash in business investment.  The instant asset write-off scheme provides immediate tax deductions for small and medium-sized businesses on certain expenditure allowing such businesses to pay […]