Shall I Buy Some Assets to Reduce My Tax Bill?

Assets over $500 are capitalised and depreciated. The amount of the depreciation on the asset is all that reduces your taxable profit.

A lot of people get caught out with this and buy a large capital item thinking it will reduce their tax. All it does is reduce their cash-flow and make money tight for a while.

You should always check your cash-flow before making any large purchases or business decisions. Having your financial information up to date allows you to make informed decisions based on fact not on gut feelings.

If you need affordable expertise to take the devil out of your admin and bookkeeping, please get in touch with us for a free no obligation chat about your business.  We can give you freedom and peace of mind.