Imagine being able to spend money to save you money and get an immediate tax deduction as well. Get in before the end of Financial Year and this could work for you too.
People often consider purchasing any packaging machinery to be a large expense, but they don't often consider how the purchase can actually save them money - even second hand packaging machinery. And if you get in before the 30th June, and you're a Small/Medium Business meeting turnover criteria - you could claim an immediate tax deduction on any eligible asset purchase up to $20,000 - per asset. *
Imagine your storage and dispatch of pallets has reached the point where you have to consider putting on another staff member. This is an option, but another option is to invest in a Stretch Wrapping Machine. Depending on how upmarket you want to go, this is likely to cost you less than employing somone new without the worry of training or associated costs to cover. Whilst you pay the money out all at once - if you get in now before the end of financial year - you could claim up to $20,000 as an instant write-off.
Imagine wanting to upgrade your shrink wrapping machine, or even replacing your heat shrink tunnel. Whilst there is the initial outlay for the investment - not only do you save money through efficiencies - less over time, less down time & better packaging - as long as you do it this financial year you could claim the immediate $20,000 tax deduction - on each eligible asset purchase.
Tax Deduction Now?
According to the recent 2017 Budget released by the Federal Goverment there has been a 12 month extension announced of the instant $20,000 tax write-off-scheme for SME's who have an annual turnover of up to $10 million (2016 this was up to $2 million turnover). So whilst many of us benefit from another year to take advantage of this investment boost - if its taken advantage of now - then you get the benefit when lodging this financial years accounts.
Speak to one of the Get Packed representatives and we can assist in what Packaging Machinery would work best for you.
* Refer to your accountant for details regarding your eligibility and eligible asset purchases including ability to make claims.*