Pandemic provides rare chance to increase cashflow

摘要

The global pandemic has seen businesses around the world struggle to make ends meet over the past 12 months, with no sector being immune to economic uncertainty. But, with efforts underway from the Australian Government to keep the economy afloat, there now exists opportunities for businesses to take advantage of unique incentives that exist in market conditions rarely, if ever, seen before. KOR is a national business supporting contractors through the provision of industrial vacuum trucks, combination sewer and drain cleaning trucks for the waste, environmental, mining, civil and industrial sectors. Mr Roberts says although times have been tough of late for contractors across various industries, now is the time to seriously look acquiring new equipment. "The ATO Temporary Full Expending is the government's response to COVID-19, it provides a rare and unique opportunity on eligible assets purchased between now and 30 June 2022. The full cost of the asset will be deducted from company profits," says Mr Roberts. "For example, if you acquire a new or used unit for $660,000 you will receive 25 per cent back in short term tax relief that equals to $165,000 in boosted cash flow when you lodge your income tax return."