EOFY….New car deals

Car dealers offering great deals on new car purchases. 

End of Financial Year sales can make for a great time to buy your next car, with many dealers offering great deals on car purchases. 

With national new car sales figures down by around 8% from the same time last year (approximately 30,000 car sales less this year), car manufacturers and dealers will be keen to make up the numbers, this years End of Financial Year car sales can present a great opportunity to purchase cars at reduced prices giving you a genuine opportunity to save money and get a great deal.

As lucrative as it may be, getting a great bargain on End of Financial Year sales can be a daunting task, as the period is usually hectic. To ensure you get in on the act and enjoy great bargains on cars, contact your National Direct Finance broker, we’ll get in there and do the hard work for you!

Get a Pre-Approval for more bargaining power

Consider pre-approval. If you’re looking to secure finance for your car purchase but haven’t finalised the exact purchase that you want to make, you might want to look into getting pre-approved for your loan. Pre-approval can give you the upper hand in the sale as you’ll know how much you have to spend and have more bargaining power. Find out more about pre-approval by contacting your National Direct Finance Broker today.

Don’t want to deal directly with the dealer?

National Direct Finance can assist our new car clients to find and negotiate a price on a new car. Let your National Direct Finance Broker know what make, model and options you want on your new car and we’ll take out the hassle and intimidation of going into the dealership to buy a new car saving not only money but time too!

National Direct Finance – 1300 836 546

Unlock the full impact of the $30k instant asset write-off

Changes to the Instant asset write-off scheme

In the 2019-2020 Budget Announcement, the Federal Government proposed to increase the instant asset write-off threshold from $20,000 to $30,000 for eligible assets and also sought to expand the application of the instant asset write-off to apply to both small and medium-sized businesses with an aggregated annual turnover of less than $50 million.

This proposal has now been passed as law and applies to all eligible assets first used, or installed ready for use, from 3 April 2019 to 30 June 2020. For Australian small and medium-sized business owners, the instant asset write-off scheme is a great way to upgrade technology and help support long-term growth, while reducing your taxable income.

However, recent research by a leading financial institution shows that almost half of all Australian small businesses are unaware of the scheme and this is the first time the instant asset write-off has been available for medium-sized businesses with an annual turnover of between $10 million and $50 million. This presents an opportunity for you to start a conversation with your small and medium business clients to help them unlock the impacts of the instant asset write-off.

Snapshot of the eligibility requirements

Any Australian small business that is currently trading with an annual turnover of less than $50 million may be eligible for the instant asset write-off. The scheme applies to assets valued up to $30,000 that are purchased and installed in the same financial year.

Eligible assets can include new or second-hand vehicles, plant and equipment, tools and IT equipment, and there is no limit to the number of assets the deduction can be claimed for. However, if the asset is for both business and personal use, small businesses can only claim a deduction on the percentage of the asset used for business purposes.

How to unlock the impact of the $30K instant asset write off with National Direct Finance

National Direct Finance can assist our commercial clients to finance eligible assets (up to $35,000), subject to credit criteria. Assets up to $30,000 in value may also qualify for the instant asset write-off.   

Low Doc Finance options available for eligible vehicle, agricultural, plant and energy assets. 

More information

Remember, this communication does not constitute financial or tax advice. Your clients should ensure the instant asset write-off is applicable to them and seek professional financial advice.

For more information about the instant asset write-off scheme, visit the ATO website.

National Direct Finance – 1300 836 546