Legal Home Loans

Generic selectors
Exact matches only
Search in title
Search in content
Search in posts
Search in pages
Generic selectors
Exact matches only
Search in title
Search in content
Search in posts
Search in pages

Take advantage of the $150K asset write-off

UPDATE: The IAWO cut-off has been extended by six months to 31 December, 2020, by the Federal Government to help businesses and sole-traders help improve cash flow.

If you’re self-employed, do not miss your opportunity while the IAWO threshold has been temporarily lifted to $150,000 (previously $30,000). Assets can be new or second-hand, and must be acquired prior to 31 Dec 2020.

If you’ve been thinking of buying a new work car, IT equipment, or other business equipment, now is the perfect time!

Why now?

• Increase in asset write-off threshold to $150,000

• Lowest ever interest rates

• Reduce the amount of tax you pay

Eligibility

• Small to medium sized enterprises with annual turnover of up to $500 million

• Businesses have until 31 Dec 2020 to take advantage

• Cost of assets under the $150K threshold

• Businesses claim a tax deduction for the business portion of the expense in the first year the asset is used

How to take advantage

Legal Home Loans offer a complimentary car sourcing and asset finance service. We source the vehicle on your behalf, negotiate price, value your trade-in, coordinate insurance, and deliver your new vehicle right to your door. Take advantage of the IAWO without any hassle or effort.

#endoffinancialyear #selfemployed #soletraders #taxtime #taxtimeprep #instantassetwriteoff #assetwriteoff #carsourcing

Leave a Comment

Your email address will not be published. Required fields are marked *