NAB has praised the Government’s efforts in increasing the small business Investment Allowance on capital assets from 30 percent to 50 percent, and will provide funding to those looking to take advantage of the tax break through Hire Purchase or an Equipment Loan.
David Taylor, general manager of Asset Finance at NAB said many small businesses are already taking advantage of the allowance as it is a “tremendous opportunity to purchase new vehicles and equipment at what is effectively a discount.”
For businesses (with a turnover greater than $2 million) which lease assets, NAB will claim the investment allowance and pass on a benefit to the business through reduced interest rates.
He said that NAB Asset Finance specialists will also be able to provide advice to small businesses about finance options for purchases as they have expertise in the areas of “ vehicle and equipment finance, specifically leasing, hire purchase agreements and equipment loans.”
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