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Jay Kumar
Oct 13 2020

Latest Budget Update - Instant Asset Write-off

News & Insights
Latest Budget Update - Instant Asset Write-off
<p>We&#39;re pleased to share with you a small commentary on govt. asset purchase incentive announcement in the last budget shared by our Knowledge Partner&nbsp;<a href="" target="_blank">Finance Associates</a>.</p> <h2>ATO Instant Asset Write-off</h2> <p>The Treasurer announced in the Federal Budget on 6 October 2020,&nbsp;that the ATO instant asset write off has been extended to all&nbsp;businesses with turnover up to $5 billion. It now applies to all eligible<br /> depreciable assets acquired from 6 October 2020 and first used or&nbsp;installed by 30 June 2022. The maximum amount limit has also been&nbsp;removed.</p> <p>Financing new equipment or a vehicle instead of purchasing it outright&nbsp;can be a good way to preserve cash flow and working capital. The&nbsp;asset might also help you to generate immediate income.</p> <h2>Financing Options are available</h2> <p>It&rsquo;s a common question for small business owners; how do you get your&nbsp;hands on the equipment you need to grow, while still keeping the all-&nbsp;important cash flow and working capital at healthy&nbsp;levels?<br /> Choosing the right asset and equipment finance can give you further&nbsp;benefits than just preserving your day-to-day&nbsp;funds:</p> <ul> <li>Assets and equipment can generate immediate income</li> <li>Finance can help preserve working capital</li> <li>Fixed repayments may give you the ability to budget more&nbsp;accurately</li> <li>The asset secures the loan, in which case you don&rsquo;t have to&nbsp;lock up your property security which can be preserved for&nbsp;future finance such as working capital</li> <li>There may be potential tax advantages to consider&nbsp;</li> </ul> <h3>What can be financed?</h3> <p class="image-align-center"><img alt="" height="300" src=" " /></p> <p>Any asset, plant or equipment that can help generate income for&nbsp;your business may be able to be financed, and can&nbsp;include:&nbsp;</p> <ul> <li>Motor vehicles&nbsp;</li> <li>Commercial vehicles</li> <li>Plant and machinery</li> <li>Agricultural equipment</li> <li>Solar power equipment</li> <li>Computers, photocopiers and phone systems&nbsp;</li> <li>Medical and dental equipment</li> <li>Office equipment</li> <li>General business equipment</li> <li>Internal fit-outs&nbsp;</li> </ul> <h2>Talk to us today</h2> <p>As finance brokers, we work with clients to help them find the right&nbsp;finance solution from the range of lenders we have access to. We help&nbsp;clients achieve peace of mind that they are on the right path, with&nbsp;finance that fits their circumstances and is aligned with their goals.&nbsp;So, if you&rsquo;re looking for business finance, we&rsquo;re here to steer you in the&nbsp;right direction. Find the guide below, or click <a href="" target="_blank">here </a>to download.&nbsp;</p> [embeddoc url=" Associates Australia - Business Finance guide.pdf" viewer="google"]  <p>We look forward to hearing from you.<br /> &nbsp;<br /> Regards<br /> <strong>The Team at Finance Associates Australia</strong><br /> 02 8883 1369 |&nbsp;208/33 Lexington Drive Bella Vista NSW 2153</p> <p>&nbsp;</p> <p><img alt="" src=" " /></p>