How Investing in a Packaging Machine can Save you Money and get you an Immediate Tax Deduction.
With the 2017 Federal Budget just released the government has announced a 12 month extenstion of the instant $20,000 tax write-off scheme.
So what does this mean for you?
Business's with an annual turnover of up to $10 million are able to immediately (this financial year) claim a tax deduction on eligible assets up to the value of $20,000 for each eligible asset - new or second hand.
This will allow eligible businesses to invest in their business and replace or upgrade assets.
If you do it before 30th June this year - you can make the claim in this financial year!
- You could purchase a Pallet Wrapper instead of hiring additional staff to wrap your pallets - and get a tax deduction as well!
- You could upgrade on a larger shrink wrapping machine and get the jobs done quicker and save yourself on overtime - and get a tax deduction as well!
- Think of all of the packaging machinery that would make your life easier, save you time and save you money - and get an immediate tax deduction.
- Consider the Second Hand packaging machinery option.
Click on this link to the ATO Website for more information and please refer to your accountant regarding you eligibility and finer details. Or have a read this article for easy understanding - Instant Asset Write-off explained