BUYING NEW EQUIPMENT? MAKE THE MOST OF NEW TAX BREAKS
The Federal Budget has been announced and it's the news we've been hoping for: To encourage growth and stimulate the economy small businesses will be eligible for a tax break when buying new machinery and equipment for the next two years!
Who is entitled? If you're a registered business with an ABN and turn over less than $2 million per annum, you are eligible for the scheme and can claim.
How much can you claim? Your business can buy any machinery related to its operation valued at less than $20,000 per item. Your business can however claim an unlimited number of items. Simply claim the full amount of the individual items from your income in order to reduce your tax bill.
Your individual circumstances should be taken into account prior to making any purchases and it is recommended that independent financial advice be sought.
What items can be claimed on? Essentially any item used to operate you business will be tax deductible eg cars, utes, trailers, water blasters, printers, photocopiers, tools, welding equipment, saws, generators, pumps, vacuum cleaners, heating, hot water units etc
Here at Kerrick we're real people, dealing with real products. We want our customers to succeed, and make it our goal to ensure customers get the right product for the job at a fair price. We have all your commercial and industrial cleaning equipment needs covered, from water blasters and drain cleaners to vacuum cleaners and extractors, from spare parts and accessories to custom built units.
Find out more about the tax break here.