If you’re in need of a work car and you’ve been thinking about making a purchase for a while, before June 30 is a prime time to decide. As there are various financial benefits, here are some specific reasons why you should consider purchasing a new work vehicle before the end of this Australian financial year.
With low interest rates and flexible payment options, why not get your hands on that caravan, jetski or car you’ve had your eye on?
Maximise Your Annual Tax Deductions
No one wants to pay more tax than they really have to, and that’s just one of the reasons why you should be sure to buy your next work vehicle by June 30. If you can find a way to reduce the tax you need to pay by making that purchase sooner rather than later, it’s definitely worth it. A little forward planning and fast action will allow you to find the car that you really need for your work while not having to take a tax hit for doing so.
Not sure if you can see a caravan in your future? Our team sources the best caravan loan packages on the market and structures them to suit you and your circumstances.
Immediate Deductions for Depreciating Assets
There’s a helpful tax law that’s been extended till June 30, 2020 and it could help you to save a substantial amount of money. The law allows for immediate deductions for depreciating assets, such as vehicles. Any asset up to $30,000 can be written off with immediate effect by small businesses. The deadline is fixed though and is a notable tax saving that many are unaware of but shouldn’t ignore.
A Plethora Of Sales To Take Advantage Of
End of financial year is the season of sales. Retailers will have offers and discounts, making it one of the best times of the year to buy a new vehicle in addition to the tax benefits that you’re already receiving. Take the time to browse these sales and see if you can find a work vehicle that works for you.
How Rostron Finance Can Help You
Here at Rostron Finance, we have access to a range of specialists in the financial industry, including lenders and insurers. This allows us to offer you competitive deals and financing solutions that meet your unique needs and circumstances.
Haven’t Done Your Financials?
Not a problem, we have plenty of low-doc options available for business owners that make it quick and easy to get approved.
If you’re considering purchasing a new vehicle this financial year and may need financial assistance, reach out to our team on 1300 70 70 39 for more information on how we can get you started, hassle-free.