$150k Instant Asset Tax Write Off
Small business owners who are considering purchasing business equipment or assets, can now benefit from the government’s $150,000 instant asset write-off if they purchase before 30 June 2021. If you are concerned about disrupting cash flow to make the investment, a short-term business loan from Clickcapital could be the answer.
The $150,000 instant asset write-off at a glance
Here is a snapshot, but you can find more information by searching for ‘Simplified depreciation
for small business’ on the ATO website.
What is it? Qualifying assets totalling up to $150,000 are eligible for an instant deduction.
When does it end? It applies to assets purchased until 30 June.
Who qualifies? Businesses with turnovers of under $500 000 million.
How does it work? Claim an instant tax deduction rather than writing the asset down over time.
Why choose Clickcapital loan over an equipment lease
Small Business owners comparing equipment finance to a Clickcapital Small Business loan realised that using Clickcapital they would own the asset outright and could re-sell if they wished.
Using a Clickcapital Loan
Instant tax write-off of the cost of the asset
Interest and loan costs are tax deductible
Item owned outright, can re-sell
Using Equipment Lease
No instant tax write-off available in many instances
Cost of the lease only claimed over the lease period
Item not owned outright in the majority of lease arrangements
We have access to a large range of lenders in Australia
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