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Alegra Finance

As the end of financial year approaches with haste, many business owners will be considering certain purchases within their businesses in order to take advantage of the instant asset write-off that is available in Australia. 

If you’re a small business owner and in need of new assets in your business such as vehicles, equipment or machinery, now is the time to act.

Understanding the Instant Asset Write-Off

This government initiative allows eligible businesses to claim an immediate tax deduction for the cost of an asset in the year that it is purchased, rather than depreciating the asset over time.  The Australian Government announced for the 2023-24 and 2024-25 income years that the instant asset write-off threshold will increase to $20,000.

Some key points:

  • Small businesses with aggregated turnover of less than $10 million will be able to immediately deduct the full cost of eligible assets costing less than $20,000 that are first used or installed ready for use between 1 July 2023 and 30 June 2025.
  • The $20,000 threshold will apply on a per asset basis, so small businesses can instantly write-off multiple assets.
  • Assets valued at $20,000 or more can continue to be placed into the small business simplified depreciation pool and depreciated at 15% in the first income year, and 30% each income year after that.
  • The cut-off for this initiative is 30 June 2025.

You can learn more on the ATO website –  $20,000 instant asset write-off – or speak to your Accountant.

This is not in any way tax or financial or accounting advice, and is general information only. Please refer to your tax practitioner/accountant/financial advisor for advice regarding suitability.

 

Financing Your Vehicle or Equipment Purchases

At Alegra Financial Solutions, we understand that purchasing vehicles or equipment can be a significant investment for small businesses.  That’s why we offer a range of financing options to help you obtain the assets you need to keep growing your business, without impacting your cashflow.

Whether you’re looking to purchase a car, truck, trailer or any other equipment, second hand or brand new, we can provide tailored finance solutions to suit your business requirements.

We work with a range of lenders to find the best finance options available, with interest rates and terms to suit the individual business’ situation.

 

Working with your Accountant

We are always happy to work alongside your Accountant to help you achieve the most beneficial outcome for your business.  We understand the importance of tax planning and can provide advice and guidance on how best to structure your commercial finance arrangements in conjunction with your Accountant to maximise your tax benefits.

 

As we approach the end of the financial year, now is the time to consider your options for financing new equipment or vehicles for your business.  The instant asset write-off is an excellent opportunity to take advantage of so that you can make the most of the tax benefits, and put your business in a position of growth for the new financial year.

Contact us today to discuss your financing needs > Contact Us.

What people are saying

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I highly recommend Vince he went above and beyond for me these past few days to get me approved thank you mate much appreciated !
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Fantastic service, always goes above and beyond to make sure the purchase process runs smoothly. Would highly recommend
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I highly recommend Vince he went above and beyond for me these past few days to get me approved thank you mate much appreciated !
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Vince was great to deal with throughout the whole process of the purchase of my new car, can’t thank him enough
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Excellent service, always contacting about everything thing even down to the smallest of things which was great definitely recommend to others 🙂
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Great experience once again with Vince. This is my 2nd time working with Alegra Financial Solutions and this time is no different than the first. Great communication the whole way through and any questions I had were answered quickly. Till next time.
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Alegra finance was great to work with. Easy to deal with. Handled all the finance applications without a hiccup would highly recommend their services
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I use Vince for my personal and business brokering, he is so informative and transparent through out the process. Always recommending him to anyone who needs great broker with quick turn around times.
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Vincenzo Zappia (CRN 507320) and Elevin Investments Pty Ltd (CCRN 507236) are credit representatives of Fintelligence Pty Ltd, ACN 625 017 174 (Australian Credit Licence 511803)

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