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Benefits of Financing
BENEFITS FOR YOU
Financing has the same tax benefits as paying cash but without the full upfront payment. - Conserves working capital allowing for good ideas to grow the business.
- No need to rely on or use secured overdraft facilities.
- No real estate security required.
- Fixed repayments, over a fixed term allows historically low interest rates to be locked in.
- Maximises tax deductions by claiming depreciation of hardware and software whilst expensing training, installation, consulting and 1st year maintenance agreements.
- A tailored financial solution to suit your client’s requirements.
- GST can be claimed back in next BAS statement (assuming accrual based accounting).
- Allows the software licence and “contracts of labour” to be legally financed.
- Tax benefits equate to a saving of between 10% to 30% over traditional leasing.
Preserve your Working Capital by means of
The IT PURCHASE AGREEMENT
Do you struggle to allocate scarce resources to too many demanding cash hungry projects?
Are you ultimately responsible for deciding which projects get the green (or red) light because it is simply impossible to implement all, due to inadequate working capital?
Majestic IT Services presents a unique purchase agreement that allows you to implement new systems, with absolute minimum impact on your business cash flow and maximum impact on your tax position.
Why use cash?
Of all investments, business systems should have long lasting value. Why spend cash on investments that provide continuing benefits to the business for more than a decade?
These can be purchased utilising finance, leaving working capital available for good ideas or emergencies.
Why the banks can’t help you.
Banks and finance companies will normally finance only tangible assets (hardware) because their banking charter restricts the financing of non-recoverables. If your credit risk is good, they may include some intangibles (software & labour) up to a limited value.
Why is it tax effective?
Most of your purchase can be written off immediately or very quickly, utilising legal business deductions and depreciation concessions. The first year subscription costs, plus all the other ancillary costs, can usually be expensed in the current tax year, which greatly reduces your net cost of funding the purchase.
What is the benefit?
The IT Purchase Agreement allows you to legally finance every component of your purchase including hardware, software, implementation, training, service contracts and consultancy.
All these costs can be brought together into one finance agreement and repayments spread over 5 years.
The IT Purchase Agreement allows you to take full advantage of the tax benefits, without the need to spend the money first. And these taxation benefits will greatly offset the cost of financing, enabling the purchase to be cash flow positive.
Depending on the tax deductible items, the outcome may be a self funding situation, where no money leaves the business for up to 2 years of the agreement.
Explore the possibilities by contacting Majestic IT Services
Phone: 1300 553 139
Majestic IT Services
Coomera Waters
Gold Coast, Australia
or simply use our Contact Us form.
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