Home ANTBITES (Media Releases) Last chance for SMBs to take advantage of $20,000 asset tax write-off...

Last chance for SMBs to take advantage of $20,000 asset tax write-off in end of financial year sales

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For Australian small businesses, there has never been a better time to invest in technology upgrades to help drive business effectiveness. The combination of the government’s new $20,000 immediate tax asset write-off, alongside the end of financial year sales have created the perfect environment for businesses to invest in growth.

Small businesses that turn over less than $2 million can claim immediate tax benefits for items under $20,000 that contribute to the running of the business. The tax breaks include purchases of eligible tech products from computer hardware to printers.

Dick Smith’s CEO Nick Abboud says the instant asset tax write-off, combined with the end of financial year sales presents an unprecedented opportunity for SMBs.

“It means small businesses can invest in technology at the best prices to ensure their operational equipment is up-to-date, with the money from the tax benefits going straight back into their business. This can then help to further drive business effectiveness for SMBs in the new financial year, potentially opening the doors to invest in more jobs, grow and innovate.

“Rather than wait for the new financial year to invest, now is the time for businesses to spend in order to get the best return.”

Jeanette Farren, Company Director at Diggiddy Doggy Daycare, Australia’s largest indoor dog daycare centre in Melbourne, is an SMB who has maximised the new tax benefits to bring about increased efficiencies.

“When the new tax benefits were announced, we immediately took advantage of them and purchased new office technology. We’re planning to head back in store before the end of June to make further purchases on computers, printers and laptops.

“The sales have allowed our business to invest in the most up-to-date operational equipment for our staff. Combined with the potential tax return, we have the opportunity to reinvest that money to help with cash-flow in the new financial year.”

Dick Smith’s end of financial year sale is available now in store or online until the end of June.

For more information on end of financial year deals available at Dick Smith, visit DickSmith.com.au.

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