Australian retailers are looking to the Morrison Government’s 2019 budget to provide some much needed stimulus for the sector.
The budget has been well received in the retail industry, and has 3 major initiatives that retailers can benefit from…
1. More $$ in your pocket… via instant asset tax write off
The Budget increases the instant asset tax write-off threshold from $25,000 to $30,000, for businesses turning over up to 50M.
So, if you’ve been contemplating upgrading your retail stockroom but haven’t ‘pulled the trigger’, doing it now would enable you to claim the cost of the project (within the govt thresholds) as a deduction in the same financial year, rather than over multiple years.
GET YOUR STOCKROOM AUDITED… FOR FREE!
Would you like free advice from a retail storage specialist on how you can improve your storage, cut costs, and increase revenue?
Your stockroom audit is obligation free… it’s pure advice you can walk away with and use however you want.
Contact us today to book a free onsite consultation.
2. More $$ in your customers’ pocket… via tax cuts
Australian retailers are hoping that tax cuts in the form of the tax offset being doubled to $1,080 for low to middle income earners will see consumer spending pick up, , as Georgina Clark at Retailbiz reports.
3. Better access to free legal advice
Additional funding to the Fair Work Commission’s Workplace Advice Service will help 35,000 small business employers access free legal advice on employment law.