Cash boost. “Now I’ve got the Cash Boost money, what do I do with it?” asked the client.
Whatever you do, don’t blow it..!
The intention behind the government assistance was to help business withstand the impact of the coronavirus and encourage an economic recovery into the future.
The government also introduced some decent tax incentives to help drive investment in assets.
So, think carefully about how you’re going to spend the Cash boost money. Don’t let it waste away. Or, as they say in the classics, “Don’t spend it on stupid stuff!”
And link it in with your tax planning at the same time. Consider:
Refreshing your advertising, your brand and your marketing for the new norm
Buying new assets that you need – take advantage of the Instant Asset Write Off, which will help reduce your tax bill at the same time
Cleaning up and getting rid of all that junk that you’ve accumulated
Upgrading your website and make it more relevant for the new way
Improving your online capability and how to commercialise it
Talking to your accountant about them doing more for you
Getting smarter technology to boost productivity
Setting a time and budget to review your cyber exposure
Make the most of this chance. Use the money you have wisely.
Let me know if you need a hand
Peter