ArticleBiz.com :: Free article content
Authors: Maximum article exposure. Publishers: Reprintable article content.
BROWSE ARTICLES
ArticleBiz.com Home
Featured Articles
Recently Added Articles
Most Viewed Articles
Article Comments
Advanced Article Search
AUTHORS
Submit Article
Check Article Status
Author TOS
PUBLISHERS
RSS Article Feeds
Terms of Service

Tax deductions to drive plant and equipment sales
Home Autos & Trucks Trucks
By: National Plant And Equipment Email Article
Word Count: 434 Digg it | Del.icio.us it | Google it | StumbleUpon it

  

Tradies and small business owners appear to be the biggest winners as many flock to the shops to take advantage of the generous tax write-offs announced as part of the 2015 Federal Budget. Sales are already soaring as operators buy up big to replace old or damaged plant and equipment, computers, work vehicles, tools and more.

INSTANT ASSET WRITE-OFFS

On Budget night, the Government announced that for the next two years small businesses with an annual turnover of up to $2 million would receive tax deductions of up to $20,000 for each and every item purchased. This basically means that taxpayers can bring forward deductions where they wouldn’t otherwise have been able to, thus helping with cash flow.

Ideas of what you can buy include:

Plant and equipment

Tradesmen tools and machinery

Sheds and storage

Work vehicles

Office or shop furnishing and fittings

IT hardware and licensed software

Other crucial tax deductions

The instant asset write-offs are just one among several other tax cuts to benefit those of us running a business, such as:

The small business tax rate is to be reduced from 30% to 28.5% from June 30.

Fast-tracked depreciation of assets that will allow businesses to write off $10,000 a year.
Employers will be able to access to subsidies of up to $10,000 for hiring both older and young workers.

Assets valued at $20,000 and more can continue to be placed in the small business simplified depreciation pool and depreciated at 15% in the first year and 30% thereafter.

THE DEVIL IS IN THE DETAIL

No truer words were spoken, especially when it comes to business and tax. What’s important is not to rush out and buy before checking with your accountant. If you’re not making a profit, then a tax deduction however generous won’t help you. If you were planning on purchasing these assets anyway, then the Government’s instant asset tax deduction can improve your bottom line together with the other tax cuts and subsidies.

If you are in a position to upgrade any of your plant and equipment, then National Plant & Equipment has an incredible range of quality, reliable and well-maintained used plant for sale. Whether it be dozers, dump trucks, excavators or service vehicles, you can contact our team on 1300 794 448 and grow your fleet today.

At National Plant & Equipment, we recognise that our biggest contribution to your business is to ensure you continue moving from strength to strength. See more at: http://nationalplant.com.au

Article Source:
http://www.articlebiz.com/article/1051633796-1-tax-deductions-to-drive-plant-and-equipment-sales/

This article has been viewed 2561 times.

Rate Article
Rating: 5 / 5 stars - 1 vote(s).

Article Comments
There are no comments for this article.

Leave A Reply
 Your Name
 Your Email Address [will not be published]
 Your Website [optional]
 What is one + three? [tell us you're human]
Notify me of followup comments via email


Related Articles


Copyright © 2017 by ArticleBiz.com. All rights reserved.

Terms of Service | Privacy Policy | Contact Us | Submit Article | Editorial