Backup Day

Backup the truck!
The budget has been announced, but its just a press release until it passes parliament.
Don’t go counting your tax saving chickens just yet!

Spending money you don’t have for a potential tax deduction might not be a sound business decision. Borrowing money (or paying interest on your credit card) could well eat up those proposed benefits.

Don’t forget tax deductions are not the same as refunds, the ATO will not be giving you stacks of cash, they are offering to increase your business expenses, so you make less profit and therefore pay less tax.

Backup the truck, its too soon to make big spending decisions without talking to your licenced specialist.