Extension of the Instant Asset Write Off
The Instant Asset Write Off is a Government tax deduction aimed to boost the economy by promoting business spending. To view the full incentive please visit the Australian Tax Office website.
Extension Granted Until 31st December 2020
The good news is that the Government has extended the Instant Asset Write Off deduction to further stimulate the economy until 31st December 2020. So, if you do need to upgrade or purchase new business equipment we would love to help you take advantage of this tax saving.
Let’s look at a quick recap of the Instant Asset Write Off tax deduction:
- Eligible assets up to $150,000
- No limit to the number of assets written off
- Business with aggregated annual turnover of less than $500 million are eligible
- Settlement must occur before 31st December 2020
We pride ourselves on being able to source the best funding option for your business, quickly and seamlessly.
We would love to chat with you if you need any assistance with your finance arrangements or if you just are looking for someone to speak to about your business plans in general. Magnolia Lane is accredited with the full suite of lenders to assist you and arrange a fully tailored finance solution. You can view our full list of products and suite of lenders, here.
At Magnolia Lane, we tailor finance solutions specific to your unique business needs. It is our role as your equipment finance broker to source the best possible rate for you. Through our accreditation with a suite of lenders, there really is no limit to what we can assist with. Contact us or get a free quote today and let’s grow together.