We all want to save tax, so here is a hot tip to make your new website fully deductible.
It comes straight from the Tax Office website so . . .
Just some commonsense to make the most of your business cash flow.
It makes sense to maximise your tax deductions.
While at the same time minimising your cash outlays, or deferring them as long as possible, leaving valuable cash available for stock, other marketing solutions or just day to day expenses.
So here is what the tax office website says about outlays relating to your website . . .
If you spend the money:
- before your business starts – then claim the cost over five years once you start
- after your business starts, and you pay:
- more than $1,000 you must claim the cost over four years
- less than $1,000 you can claim that cost as an outright deduction.
So from this, it seems pretty obvious that the best approach is to keep your expenditures under $1,000.
This is the reason that leasing or renting business equipment is so popular with business owners.
It defers the outlays and maximises the tax returns.
So it makes sense then to keep payments for your website under $1,000 . . .
And we would like to help with that.
If you are embarking on a new website in the near future, please contact us first to see how we can assist you with this outcome.
Here’s the link to the article on the ATO website:
Please talk with your accountant about your individual situation and how this information may apply to you and your business.
Well, that is quite simple really!
What should you do now?
- Talk with us about options to minimise your tax and maximise your cash flow.
- Want some help or ideas? Just contact us at Hotpink Websites now.
Start with good people, lay out the rules, communicate with your employees, motivate them and reward them. If you do all those things effectively, you can’t miss.
~ Lee Iacocca
Remember – Make your new website fully tax deductible