Instant Asset Write-off
Brendan Kelly
Commercial Asset Finance. Simple and Fast with Service Guaranteed! ACL # 389328
The instant asset write-off is available for ALL business assets.
You will start to hear more and more about the Instant Asset Write-Off for business assets as we head into 2021. This allows your business to immediately write-off any asset secured for business purposes. This is a benefit directed at business, designed to stimulate investment in the business assets.
No need to pay cash to get this tax advantage. Funding business assets with a Chattel Mortgage allows you to spread payments for up to 5-years, receive the immediate tax write-off as well as claim 100% of the GST upfront.
This is a double win, as you spread the cost over multiple years and get to keep the cash in the business. The time is right to make a buying decision using the instant asset write-off and a 90-day pre-approval. Having approved funds means you are in a strong position to negotiate the price.
Eligible businesses include: Sole Traders, Partnerships, Trusts and Pty Ltd companies.