End of Financial Year and Buying a New Car!

End of Financial Year and Buying a New Car!

June being the end of the financial year means that car dealerships around the country are competing to offer the best deals and maximise their annual sales before the financial year comes to an end.

If you are thinking of buying a new or used vehicle it can be a good idea to secure a finance pre-approval first to maximise your opportunity to negotiate the price of your purchase. Having the ability to buy there and then can often give a buyer more bargaining power when it comes to negotiating the price of a vehicle with a sales representative.

Speak to a vehicle finance specialist today to secure a pre-approval so you can start shopping.

 

Self Employed/Small Business Tax Incentives!

If you are self-employed then there are even more benefits when it comes to buying a new work vehicle before the end of the financial year. Not only could you win by finding an end of financial year bargain, but you will also benefit from the tax incentives available for the purchase of assets under $20,000.

The ATO allows small business to claim an immediate deduction for assets costing under $20,000 that they start to use – or have installed ready for use – before 30 June 2016. To find out more about this small business tax incentive please visit the ATO website.

Previously the threshold for immediate asset deductions was $1,000, so this new incentive is a great opportunity for small businesses to arm themselves with the vehicles, tools and equipment that they need to operate effectively.

Speak to an asset finance specialist today to discuss your businesses needs in time for the end of the financial year.

 

As always if you have any questions please do not hesitate to send us an email or contact our head offices on
1300 663 943.

Our team are excited and ready to help with all your financial needs. Whether you are looking to buy a new car, review your home loan, or even if you want to speak to someone about effectively manage your superannuation, iconic’s team of finance brokers and financial planners are here to assist you in achieving your goals.

Thanks for reading!

iconic home loans

*Finance availability is subject to applicant meeting lenders qualifying criteria and all approvals are at the discretion of the lender. This advice is general advice only and you seek seek professional independent advice before making any decisions in relation to your personal or business finances.