Benefits of Tax Relief for Home Improvement Businesses
by Piera Rossi, on Oct 12, 2020 10:07:04 AM
With measures to stimulate building throughout the nation in a bid to produce work and enhance cashflows in the face of the pandemic, the Government allotted one billion dollars in low-cost financing to sustain the building and construction of affordable housing.
In this post, we explain how these announcements can positively impact your home improvement business and how we can help you cash-in by better servicing your customers.
How do these benefits help your home improvement business?
In a quote to incentivise activity, the 'HomeBuilder' plan supplies assistance to tradies and also small businesses by giving $25,000 grants for home renovations and new builds.
The funding is available for single people with an annual income of as much as $125,000, and couples with a consolidated income of up to $200,000.
According to the chief executive Denita Wawn, the scheme could ensure the viability of 368,000 small companies and independent tradies.
To check the official HomeBuilder overview, click here.
Tax exemption for granny flats
To boost the building and construction industry as well as provide safe accommodation for senior or disabled Australians, Treasury has revealed a capital gains tax exemption on granny flats.
Under the new initiative, which is expected to be applied as of July 1, 2021, CGT will not apply to formal granny flat arrangements giving accommodation to older Australians, or individuals with disabilities.
The JobMaker hiring credit will indeed subsidise 50% of the salaries of new as well as old trainees. Additionally, construction business can get an extra $200 per new employee aged between 16 and 29 or $100 for those in between 30 and 35.
How your home improvement business can cash in from these measures?
With these actions in place, it is anticipated to see an increase in the activity of the building sector and offering the right finance alternative can be a game-changer for your home improvement company.
As a business owner or business manager, one of your goals –if not your key objective– is to provide a service that is memorable to your client. Having a partnership with a reputable finance broker will certainly minimise the risk for you and your customers while building trust as well as customer loyalty.
How can Ausloans help you better service your customers at no cost?
While some customer finance options may charge monthly fees and or transaction fees, Ausloans Zink finance solution is free. Moreover, you have the bonus of earning extra income from referral commissions you receive every time a customer obtains finance through us.
Other benefits of using Ausloans Zink finance include:
- Fast finance qualification and approval so sales can proceed quickly.
- Seamless, online, paperless finance application process for your customers.
- Professional brokerage staff to manage the entire loan process on your behalf.
- Unparalleled marketing and resource support to help you promote your financed offers.