What’s wrong with the date. 30.06.2021 or 30 June 2021 is the last day of the financial year where assets can fully deductible, where they qualify, in the 2020-21 financial year. There are more generous instant (brought forward) write downs as a Covid business support policy.
Any business making purchases at the end of a financial year should obtain independent tax advice specific to the business and it’s planned purchases.
Only if you are in business or legally able to claim a deduction will this be relevant. Should we expect those who might be enticed to do so also know the relevant tax legislation and rulings? Efficiently well to see past the HN spin machine!
If they can’t it seems likely they will not be in business in the near future. A further suspicion is most businesses of substance shop elsewhere.
Perhaps the marketing psychology of the adds has a very different purpose. Just another way of drawing the consumers attention. I have to keep reminding myself that those who are paid Choice members or community members have a shared interest in better consumer outcomes. Not just your average consumer, ‘smarter than the average consumer’.
As the target audience is businesses which quality for instant asset writedowns. Businesses they know that as long as purchases are made before 23:59:59 on 30 June 2021, they qualify for writedowns in 2020-21 financial year.
I wouldn’t call it a scam or lack of credibility, just over simplification of their advertising when advertising real estate is a premium.
If they said say before 1 July 2021, this would get them in hot water as it may give the impression at first glance that one could buy on the 1 July.
Interesting to both see Harvey Norman and Joyce Mayne (owned by HN) still advertising the tax concession opportunity on TV after their store closing time last night (June 30).
This was at a time when it would be impossible to purchase goods and use them or have them installed ready for use before the end of that day.