The Instant Asset Tax Write Off Australia Save Tax
EOFY 2022 – June 30
How To Save Tax This Financial Year in Australia?
Want to know how to save tax the financial year in Australia ? Have you ever heard of the asset tax write off, With national stock shortages on vehicles and equipment, now is the time to upgrade your business vehicle and equipment so you can claim a full tax benefit and save money on your taxes this financial year.
What Is The Instant Asset Write-off?
A great benefit to your business this EOFY.
For information about the instant asset write-off, your eligibility, and the tax savings benefits explained please refer to the below Q & A. For any other questions not answered here, please contact us on 0477 477 811 at Coastie Approved and we will be happy to help.
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Frequently Asked Questions
The instant asset write-off allows businesses to deduct the total cost of a business asset as a depreciation expense this financial year.
Any business vehicle and equipment, it even covers improvements you make to existing assets.
Yes, the total cost of used purchases can also be claimed as long as your annual business turn over is less than $50 million.
Yes, you can, no problem.
Given the current stock shortages on vehicle and equipment please make sure you act now to take delivery before June 30.
Yes, you can borrow the funds and still deduct the total cost of the asset this financial year. Paying it off monthly makes sense since you reduce your tax liability but not your cash flow.
There is no limit- you can purchase an unlimited number of vehicles, tools, and equipment of any dollar value.
Get pre-approved on your finance now. With stock availability low and most businesses wanting to offset their tax before the end of the financial year – act now to avoid disappointment.
