And so once again we close in on that crazed 6 – 7-week period of the calendar year we call ‘End of Financial Year’. With pressure mounting each day as we close in on that June 30 deadline to make that ever desired tax deductible purchase, now is the time that many Australian’s have marked in their diaries to buy a new car. And despite volatile market conditions, it truly is a great time to buy.
$150,000.00 Instant Write-Off
Announced by the Federal Government in March, the threshold amount of the eligible business instant asset write off has been increased from $30,000.00 to $150,000.00 until the 30th of June, 2020. While leading industry bodies are pushing for the end date to be extended given current market conditions, there has not been any notable traction here at the time of writing. For many, the instant asset write-off available this financial year is a window of opportunity to secure great value at tax time*. To find out if you would be eligible for this, speak to your accountant for further advice.
It’s the old firm – that you receive the biggest discounts on a purchase in June. And while this writer is a big believer in that particular statement being a touch overrated, there are many elements of truth here. Firstly, many manufacturers will launch either quarterly or monthly bonuses for this period which offer value to the consumer either in the form of reduced pricing, free scheduled servicing or finance options, all of which can make an enormous difference. Secondly, with a little luck and a lot of research, you really can find a once in a year offer during this time as dealerships look to clear the decks.
As an EOFY reward for our members, we have extended the Launch Price offer of $819.50 INC GST on the Schmick Car Care Club Platinum 5 Year Membership INC Alloys until the June 30 deadline.
If you or someone you know are in the market for a new vehicle or outstanding aftercare and protection options, please don’t hesitate to get in touch on:
1300 119 493
Or, make an enquiry through the MBA Car Buying Service linked below.
*Please seek independent financial advice.