THE 150K INSTANT ASSET WRITE OFF

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EOFY Update - claim your instant asset write off up to $150K and save 27.5% on your tax bill*

ASSET WRITE OFF CASE STUDY

THE SITUATION

Steven and Belinda run a SME professional services business with a turnover of $3.5M.  They have 14 permanent staff members and employ a further 6 staff on a contract basis when extra resources are needed to complete project work.  They inherited their office fit-out and it is no longer fit for purpose as the workstations are too small, there is no break out space for collaboration and there is wasted space that is not useable.  They want their office to present a more professional image to clients and a better working environment for their team.  

THE SOLUTION

Steven and Belinda have managed to save $25,000 to spend on new office furniture and would like to buy 16 new workstations, 2 stand up desks, 16 new ergonomic chairs and a furnished breakout space consisting of two freestanding partitions, a table, 4 casual chairs and a couple of bean bags.  They think it is a good opportunity to buy this new furniture due to the instant asset write off up until 30 June 2020. 

Steven and Belinda take advantage of the tax benefits of the instant asset write off (100% of the cost) rather than depreciating the office furniture over its estimated useful life.  They have calculated they will save $6,875 (save 27.5%) in tax by buying this office furniture and claiming the instant asset write off for the year ended 30 June 2020.  The other benefit is that they get to enjoy their new furniture without having any ongoing depreciation recorded against their P&L. 

THE NET RESULT

Our product options eligible for asset write off

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Workstations

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Ergonomic Chairs

Motion Office

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Flexible Chairs

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PURCHASE NOW AND CLAIM IT BACK ON TAX BY THE END OF FINANCIAL YEAR

"After purchasing 10 new workstations we were able to use the instant asset write off which saved us 27.5% of the asset cost in tax this year”

SAMANTHA
Accountant

"This month is the perfect opportunity for us to redo our entire office setup with newer workstations that are safer and create a brighter office environment for our staff " 

JAMES
Business Owner

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Boardroom Furniture 

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Disclaimer Note: This is assuming the business is an SME business paying tax at 27.5% and will have tax payable related to the year ended 30 June 2020.  This is general advice only and does not constitute financial or tax advice.  You should obtain specific advice tailored to your situation from your Accountant or Tax Agent.