Spring 2014

Stop, Re-assess and Save

If you, like most of our clients are super busy organising your next job, finishing off the one you are doing right now and when you get spare time, it is spent issuing invoices and chasing people who haven’t yet paid you…it is probably worth taking an hour to have a good look at your business expenses.

Now that we have passed June 30, the timing is right for you to begin to get your paperwork/receipts in order because at some time over the coming months, you will be calling your accountant and making a time to meet and go through the process of preparing your 2013/2014 Tax Returns.

When you are doing this once a year job – take the time to look at the finance contracts you are paying off on your equipment used within the business.

Look especially for the following;-

• Did you begin the loan on or before 2011?

If you did, this is the time to pick up the phone and call Transport Finance and;-

• Ask what was the interest rate on my contract?
• How much have interest rates come down since I started my loan?
• How much can I save if I re-finance or trade-in/replace what I have now?

If you only look at your business expenses once a year, then now is certainly the time to do it.

There are a number of factors that we have to take in to consideration, of course. Things such as;-

• How long do you intend to hang on to each asset?
• Did you have a balloon payment structured in to the original loan?
• Are the hours or kilometres more than I had expected to do?

Once we have had a chance to review your current contract/s then we will be in a position to advise you on the best way forward. It could very well be the case that we can re-finance your loan and save your business money on the monthly repayments or trade you up in to a new one for less than you are currently paying and your warranty, etc starts again.

Call now to see if we can help your business be more efficient.