12 July 2017
Category: Latest news
Tags: Commercial

$20,000 instant asset write off extended by ATO

Following the Government’s announcement, small businesses can immediately deduct the business portion of most assets if they cost less than $20,000 and were purchased between 7:30PM on 12 May 2015 and 30 June 2018.


Immediate deductibility threshold for small business extended

In short, this deduction can be used for each asset that costs less than $20,000, whether new or second-hand. You can claim the deduction through your tax return, in the year the asset was first used or installed ready for use. For more info, please refer to the ATO’s announcement.

Factors to consider if financing this asset acquisition

Turnaround speeds

Our dedicated team can complete document verification and arrange for transfer of funds into your bank account in as little as 72 hours. Same day funding is possible if documents are provided and final verifications are completed before 2pm.

Supporting documentation requirements

At Naritas, if supporting documentation for your loan application is potentially an issue for your company, we have finance options that require no financial reports & no tax returns. With such minimal paperwork required the finance approval process won’t represent a large opportunity cost so far as your time is concerned.

Time since company registration & industry restrictions

At Naritas start-ups, new and established businesses from all industries are welcome. We also accept all businesses from all industries. We have secured options for new businesses and both secured and unsecured finance options for established businesses.

Transparency of loan costs

At Naritas we treat transparency and reliability of costing as highest priorities.  In short, we’ll never recommend a loan with opaque costs and will always ensure that all costs are disclosed before you enter into a contract. For inexperienced business borrowers we’re happy to help you to calculate the APR & compare competing alternatives.

Your business credit score

Unlike banks, applicants with bad credit or low business credit scores are welcome at Naritas as we believe everyone deserves a second chance. In short, if you do happen to have a low business score you may still be considered for approval especially if you have collateral to offer for the loan.

Would you like help arranging finance for your business?

The team at Naritas are experts in delivering timely guidance & finance approvals.  We have over 100 lenders on our panel & a high quality team of dedicated credit advisers to steer you efficiently through the approval process.

To make an enquiry online with our team, click here. Alternatively please feel free to phone us on 1300 558 887 during business hours.