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Should I Lease or Buy?

vwparked

A question that we get asked from time to time, is whether it’s better to lease or buy. Say if your business is growing and you need a van. Sure, you can go out and get a loan and buy a van. In that case, you can claim a deduction on the interest cost of the loan, plus the depreciation on the van each year. And if it’s a second-hand van that costs less than $20,000, then until 30 June 2017, you can write off the entire cost in one hit; this will reduce your income tax bill.

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GST Blues for New Businesses

teacup

Running a small business in Australia is a challenging affair. In addition to the daily challenges of running a business and trying to make it profitable, there are a myriad of other things to keep on top of. From superannuation for your staff, to arranging insurance and organising suppliers…especially if you’ve just started a new business, it can all seem overwhelming.

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