With the end of financial year approaching, now is the time to consider how you will make the most of the $20,000 instant asset write-off scheme. Whether you’re a small business owner, self-employed, or have bad credit, you can still take advantage of government tax incentives and immediately write-off your new work vehicle or equipment purchase under $20,000.
This a fantastic opportunity that will benefit you and your business and one you shouldn’t waste any time pursuing.
What is the $20,000 instant asset write-off and can I claim it?
If you are a small business owner with an annual turnover of less than $10 million, then the EOFY $20,000 instant asset write-off applies to you!
The policy was initially introduced in the 2015 federal budget. It enables businesses like yourself, to buy or finance an asset up to $20,000, then immediately deduct the business portion in your upcoming tax return. Essentially, the write off enables you to claim the depreciation deductions on the life of the asset in one go, up-front, rather than over a longer period.
In turn, this reduces your taxable income and therefore the tax payable by your business in the year you bought the asset. And we all know that less tax means more profit!
For further information you can also visit the ATO Newsroom website.
Let Blink Finance help you make the most of the scheme
can provide finance for a range of business assets including motor vehicles and equipment. So even if you don’t have all the funds right now, we can organise financeˆ for you, so you can still claim the asset-write off in your upcoming tax return.
Once applying, we will work with Australia’s leading banks and lenders to source you the best possible deal. In fact, we are so confident we can find you the best rate, we guarantee it!
We also can assist with sourcing vehicles and goods that fall under the $20,000 threshold, by utilising our dealer network and industry contacts.
When to apply
If the information provided above strikes you as a beneficial opportunity, don’t waste any time. The end of financial year is fast approaching and all assets must be purchased and paid for by the 30 June 2018 to utilise the $20,000 write-off this financial yearˆˆ. Luckily for you, Blink Finance has a quick and easy approval process, backed by a team of dedicated finance specialists who will provide you with assistance through the application process.
And don’t forget that we can also provide support with asset sourcing! We are happy to share our industry contacts in an effort help you reduce the total cost of your chosen vehicle or asset. This is just one of the things that sets us apart from other brokers or lenders.
Make the right move and APPLY NOW with Blink Finance, to kick start your end of financial year $20,000 write-off application.
ˆ As long as regulatory conditions are met.
ˆˆ Blink Finance are not financial advisors, nor can we provide taxation advice. Please consult your tax agent for full terms and conditions.