Under the Government’s newly announced stimulus package, the instant asset write-off threshold has increased from $30,000 to $150,000 until 30 June 2020. This means that if you are a business owner, you may be able to claim an immediate deduction when you purchase new or second-hand assets for your business, such as:

• motor vehicles
• tools and equipment
• office furniture
• computers, laptops and tablets 

If you need to arrange fast finance, now is the time to call us on 0434 103 326.

Many of you will have received our earlier email regarding the impacts of COVID-19 on cash flow the lending landscape, but it’s worth reiterating some key points here.

Importantly, whether you are an employee or business owner, we suggest that you consider your current financial position and assess whether you have sufficient cash flow to get through the COVID-19 crisis with the minimal possible financial disruption.

When assessing any application for finance (including refinances), financiers will look at recent and current cash flow and wages. The unfortunate truth is that when cash flow has slowed down or dried up, our savings have been depleted, it is less likely that the bank will consider a cash flow injection. In the past, we have seen too many individuals and businesses leave important financial decisions until too late which has significantly reduced their options or even left no suitable options available.

If you have any concerns at all or would like to discuss your options, please get in touch with us as early as possible so we can assist you.