Entries by pacfin

WA Economy Stronger Than Expected

Economy The state’s response to COVID-19 has positioned the WA economy to rebound faster and stronger than anticipated. The Government’s WA Recovery Plan of more than $5.5 billion has played a major role in assisting businesses during the pandemic. WA was the only state to experience growth during the last year (increase of 1.1 per […]

How your business should be using the IAWO

The latest extension to the instant asset write-off (IAWO) tax concession continues the good news for SMEs. Details of the IAWO concession In effect, there are now two overlapping asset write-off schemes in place – IAWO scheme and ‘temporary full expensing’ scheme. Small and medium businesses qualify for both. The total cost of new assets […]

The Federal Budget: What it means for SMEs

The federal budget delivered on 6 October 2020 will help put SMEs back where they belong. This is at the forefront of economic recovery as we continue to stand firm in the face of the COVID-19 pandemic. Here are the details: Instant asset write-off (IAWO) extended The existing concession, to write off 100% of new […]

What do the RBA’s rate cuts mean for the economy?

Monetary Policy  Following its November meeting, the RBA announced further rate cut support for the economy. In particular: The cash rate was cut from 0.25% to 0.1% The 3-year Australian Government bond target was also reduced to 0.1%, as was the lending rate charged to banks (the so-called Term Funding Facility) These changes were widely […]

Regain confidence in your business’ cashflow

Managing Your Cashflow Every business owner understands that cashflow is the lifeblood of their business. It is the thing that keeps business owners up at night. Being able to juggle the cost of paying employees, rent and suppliers can be challenging. Not having enough money in the business account each day to cover all these […]

Financing Your Equipment With Pacific Finance

Performance Mining – Client Story Performance Mining was originally introduced to Pacific Finance Australia by an existing client and a mutual Accountant back in 2017. Tim Edwards, Director of Pacific Finance, has helped Performance Mining secure finance for around 20 pieces of equipment including light vehicles, service trucks and water trucks. Performance Mining (PM) was […]

The New IAWO Scheme – October 2020

On Tuesday, 6 October 2020 further changes were made to the Instant Asset Write Off (IAWO) Scheme. These changes make it easier for Australian businesses to write-off the full value of assets purchased without any limitations on the value of the asset. What you need to know about the new IAWO Scheme The original $150,000 […]

90 Days Until The IAWO Ends

What is the Instant Asset Write Off (IAWO)? The IAWO is a once-off tax deduction that businesses can claim for the purchase of business-related assets Businesses can claim a 100% deduction for eligible assets. The asset is eligible even when it has been acquired under finance The current threshold is $150,000 for each asset. This […]

Achieving Financial Sustainability During Ongoing Uncertainty

Recent developments in Australia – and even New Zealand – have demonstrated that COVID-19 is going to be with us for quite a while yet. The businesses who survive, and come out the other end ready to accelerate, will do so because they were financially sustainable. But just how do you achieve financial sustainability? Let’s […]