Small Business – Big Opportunity

small-business-opportunity-08In last Tuesdays budget the government announced two measures to to boost confidence and investment by small business.

The first being a reduction of the company tax rate by 1.5% to 28.5%, a move supported buy the opposition who in their reply speech want to go even further, and introduce a 5% cut so it’s safe to say that will make it through the senate.

The other measure that has been introduced is that small business (those with a turnover of up to $2 million per annum) can claim an immediate tax deduction for each and every item they purchase, up to $20,000.  or the 1st $20,000 of items over $20,000.

This will apply for assets acquired or installed ready for use until 30 June 2017. The $20,000 limit applies to each individual item. Small businesses can apply this $20,000 rule to as many individual items as they wish.

So whether its a new cappuccino machine for a cafe’ or a delivery van, let us help you finance that new equipment and safeguard your precious working capital.

Small-Business-AdvertisingAs always, you should seek professional advice to determine whether you are able to claim a deduction for such purchases.

Our recent blog on Where to get finance for a small business went through some of your options to fund your purchases.

These Include:

  • Business loans
  • Commercial loans
  • Lines of credit
  • Home equity loans
  • Franchise funding
  • Venture capital

If you want top explore your options give us a call, This money isn’t a hand out, and the purchases aren’t free – but if you have a need to upgrade or replace some equipment this is a great opportunity to assist with that.

Elkins Finance is a MFAA Approved Credit Adviser and available to assist you.    

Call 1300 355 467 or use the contact us form to request we contact you.