Instant Asset Write-Off: How Can It Benefit Your Business?

By June 12, 2019Insights

The 2019 Federal Budget ushered in several benefits for small to medium businesses, one of which was an extension to the instant asset write-off initiative until June 30, 2020.

Haven’t heard of the scheme? You’re not alone – research conducted by American Express revealed that almost half of all small business owners were not aware of the initiatives and benefits it could bring to their business.

What is an Instant Asset Write-Off?

The instant asset write-off scheme allows small to medium business with turn over of less the $50 million to claim an immediate deduction for new or second-hand plant and equipment assets, such as office equipment, vehicles and tools. These assets must first be used in the year you are claiming for.  For detailed information about the scheme, please check the ATO website

How can Aliva help you Utilise this Scheme?

Aliva can offer several different ways to utilise the scheme to your advantage and we’ve listed just a few of these below.

  • Increase Productivity by upgrading older file servers and desktop/notebook computers to take advantage of increased performance and processing power
  • Reduce your operating costs by upgrading older file servers and desktop/notebook computers to the latest Microsoft Operating Systems before they discontinue support
  • Protect your business through creating and implementing a Disaster Recovery Plan
  • Secure your data and your business from external cyber threats by performing an IT System Health Check, IT Network Audit and/or an IT Security Audit

Interested? Don’t delay

Contact us now. Aliva’s trained staff can help you source new assets so that you can start using them before 30th June 2019 and be eligible to claim* up to $30,000 in this year’s tax return.

*As always, before making any large purchases, we suggest you speak to your accountant or tax professional and assess how the asset will benefit your business and how the purchase may impact on your cash flow or finances in the short term.

By Matthew Winwood – Business Development Manager

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