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Can I finance multiple Asset purchases?

  • Posted by simon-perrin
  • On May 26, 2020
Yes the Accelerated Depreciation tax incentive for eligible businesses is available for each new eligible asset purchased. AddCash will finance multiple asset purchases provided you satisfy all other criteria.
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How much can I spend on purchasing new Asset(s)?

  • Posted by simon-perrin
  • On May 26, 2020
Subject to other criteria Accelerated Depreciation can be applied to new Assets purchased and ready for use in the 2020-21 financial year.  Importantly eligible assets acquired and ready for use prior to 31 December 2020 up to the $150,000 threshold can be instantly written off.  After this the instant asset write-off threshold reduces to $1,000 […]
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What upfront costs and Government charges will AddCash finance?

  • Posted by simon-perrin
  • On May 26, 2020
Government and other associated costs and charges required to install or make the asset ready for use will be funded by AddCash. These include GST, Dealer Deliver, Stamp Duty, Registration, Insurance and any other options, improvements or accessories either factory or dealer fitted.
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Do I have to repay my GST credit?

  • Posted by simon-perrin
  • On May 26, 2020
AddCash will provide sufficient finance to cover any GST included in the asset purchase. On your next BAS you can claim the GST and retain the benefit of any offset or credit. The GST component is included as part of the ongoing finance package repaid over the term up to 5 years.
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How long does this offer last?

  • Posted by simon-perrin
  • On May 26, 2020
The Accelerated Depreciation deduction applies to New assets first held, used or installed ready for use from 12 March 2020 through to 30 June 2021.
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Will AddCash guarantee ATO eligibility of my business and assets being purchased?

  • Posted by simon-perrin
  • On May 26, 2020
The ATO rules and associated legislation are complicated and change regularly. AddCash does not know all the circumstances unique to every business. You should seek independent expert advice from your Accountant who can confirm the eligibility of your business and the assets you acquire for the Instant Asset Write Off or Accelerated Rate of Depreciation. […]
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What changes have been proposed in the Federal Budget?

  • Posted by Fit for Market
  • On May 26, 2020
The changes proposed look to expand the availability of tax incentives to larger businesses, over a longer period of time with consideration to making the Instant Asset Write-Off available for new Asset Purchases of $150,000 or more by removing the threshold. The details need to be agreed and pass through Parliament but in essence, huge […]
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Why do I need Customer Invoice Finance?

  • Posted by simon-perrin
  • On May 26, 2020
This allows AddCash to offer features not otherwise available for Asset Finance. These include financing the asset purchase plus associated government charges and costs, allowing you to retain any GST credit and provide finance regardless of your deferred payments.
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Are there any break charges to pay out early within the first 12 months

  • Posted by simon-perrin
  • On May 26, 2020
You can pay out AddCash at any time. If this is within the first 12 months you will be required to pay the balance of finance charges that would have been otherwise payable if you had retained the facility for 12 months. This is the minimum length of time for AddCash to make the product […]
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