Gold Coast based excavation business, Loray Excavations was one of many businesses that took advantage of the Instant Asset Write-Off Scheme offered by the government.
QPF Managing Partner Matt Crain brought this incentive to the attention of Loray Excavations and in doing so was able to secure finance to replace their existing Hitachi excavator with a BRAND NEW Hitachi ZX48U-5A Mini Hydraulic Excavator.
We can see you've put your new machine straight to work! Congrats guys.
When Linda & Russel Linn of Ruslin Timbers were in need of a new excavator, they didn’t hesitate to call Sarah Conroy - QPF Finance Broker at QPF Toowoomba to secure the funds for their new machine.
The Linn’s purchased the excavator to assist with tree removal and increased demand due to Covid-19, and they were very pleased with their experience with our team.
“Sarah was instrumental in enabling our business to purchase this excavator from a QLD dealer in a very proficient and customer orientated manner. I cannot thank her enough as she also found me the right insurance company and has kept in constant contact with me throughout this purchase” - Linda & Russel Linn
Six weeks and counting (down). That’s how long your business has to make use of the $150,000 instant asset write-off before the end-of-financial-year June 30 deadline. Click below to message us your mobile number now and we'll call you in the morning to discuss your options 📞
𝙈𝙖𝙠𝙞𝙣𝙜 𝙩𝙝𝙚 𝙢𝙤𝙨𝙩 𝙤𝙛 𝙩𝙝𝙚 𝙄𝙣𝙨𝙩𝙖𝙣𝙩 𝘼𝙨𝙨𝙚𝙩 𝙒𝙧𝙞𝙩𝙚-𝙊𝙛𝙛 𝙎𝙘𝙝𝙚𝙢𝙚:
𝘽𝙧𝙪𝙘𝙚’𝙨 𝙩𝙧𝙖𝙘𝙩𝙤𝙧 - 𝙖 𝙘𝙖𝙨𝙚 𝙨𝙩𝙪𝙙𝙮
Say ‘gday’ to Bruce, who runs Fair Dinkum Farms in the Darling Downs and has an aggregated annual turnover of $25 million for the 2019‑20 income year.
In May, Bruce finally splashes out and purchases the second-hand tractor he’s had his eye on for a while now for $140,000, exclusive of GST, for use in his business.
Under the new $150,000 instant asset write‑off, Fair Dinkum Farms can claim an immediate deduction of $140,000 for the purchase of the tractor in the 2019‑20 income year.
This is $136,101 more than he could have immediately claimed under normal arrangements, as Bruce would have only been able to claim $3,899 using the diminishing value method over a 12 year period.
At the company tax rate of 27.5%, Bruce will pay $37,427.78 less tax in 2019‑20 than he would have if the instant asset write-off scheme wasn’t in place.
This will improve Fair Dinkum Farms’ cash flow and help Bruce’s business withstand the economic impact of the coronavirus.
When purchasing an asset under this scheme, it’s crucial to select a great finance product - that's where we can help! Send us your mobile number via Facebook messenger now and we'll call you in the morning to discuss your options.
Gold Coast based excavation business, Loray Excavations was one of many businesses that took advantage of the Instant Asset Write-Off Scheme offered by the government.
QPF Managing Partner Matt Crain brought this incentive to the attention of Loray Excavations and in doing so was able to secure finance to replace their existing Hitachi excavator with a BRAND NEW Hitachi ZX48U-5A Mini Hydraulic Excavator.
We can see you've put your new machine straight to work! Congrats guys.
When Linda & Russel Linn of Ruslin Timbers were in need of a new excavator, they didn’t hesitate to call Sarah Conroy - QPF Finance Broker at QPF Toowoomba to secure the funds for their new machine.
The Linn’s purchased the excavator to assist with tree removal and increased demand due to Covid-19, and they were very pleased with their experience with our team.
“Sarah was instrumental in enabling our business to purchase this excavator from a QLD dealer in a very proficient and customer orientated manner. I cannot thank her enough as she also found me the right insurance company and has kept in constant contact with me throughout this purchase” - Linda & Russel Linn
Join The Conversation
Want to go in the draw to win a
$200 Fuel Voucher?
Email nicoledickson@qpf.com.au and tell us about your asset.
Don’t forget to also attach an image of the asset to the email to be featured on our Facebook page!
