Financial Planning Archives - Waterford https://www.waterford-wi.org/category/financial-planning/ support for small business development Tue, 04 Feb 2025 09:30:18 +0000 en-US hourly 1 https://wordpress.org/?v=6.7.2 https://www.waterford-wi.org/wp-content/uploads/2021/06/cropped-business-development-32x32.png Financial Planning Archives - Waterford https://www.waterford-wi.org/category/financial-planning/ 32 32 Which Marketing Strategy Should Startups Choose? Top 10 Best Options https://www.waterford-wi.org/which-marketing-strategy-should-startups-choose-top-10-best-options/ https://www.waterford-wi.org/which-marketing-strategy-should-startups-choose-top-10-best-options/#respond Tue, 04 Feb 2025 09:30:04 +0000 https://www.waterford-wi.org/?p=330 Launching a startup is always a risk, but it’s also a chance for innovation. However, even

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Launching a startup is always a risk, but it’s also a chance for innovation. However, even the most unique ideas can be overshadowed by competitors if the right marketing strategy is not in place. It is important not only to attract the attention of the target audience, but also to retain it by building long-term relationships. In this article, we will look at the top 10 marketing strategies that can help startups successfully enter the market and achieve sustainable growth.

1. Content marketing: Building trust through useful content

Content marketing allows you to capture your audience’s attention and establish trust. A well-designed strategy not only builds brand awareness, but also contributes to a startup’s reputation. Here are the key elements that can form the basis of successful content marketing:

  • Blogs and articles – writing informative and useful content that addresses relevant problems of your target audience, improving SEO positions and driving additional traffic to your site.
  • Video content – creating engaging and educational videos that can grab users’ attention and go viral, spreading the word about your brand through social media and video platforms.
  • Podcasts offer an opportunity to create a more personal and meaningful connection with your audience, while also enhancing your ability to engage with potential customers.

2. SEO-optimization: Attracting traffic without advertising costs

SEO optimization helps startups boost their search engine visibility, driving consistent organic traffic to their website. It’s one of the most cost-effective ways to attract an audience without relying on paid ads. Key elements of SEO optimization include:

 

  • Perpetuate organic traffic – creating high-quality content and optimizing your site for search engines, resulting in a steady increase in traffic at no additional cost.
  • Attract a more targeted audience – focusing on the key queries and needs of your target audience helps attract exactly the users who are most likely to be interested in your product or service.
  • Reduce the cost of paid advertising in the future – SEO, unlike paid advertising, requires investment only at the initial stage, further ensuring long-term growth of traffic without constant advertising costs.

 

3. SMM: Using social media for engagement and communication

Social media offers startups a valuable platform to connect with their target audience, strengthen their brand, and boost sales. It’s a dynamic channel that enables not just product promotion, but also relationship-building with both potential and existing customers. Key SMM strategies for startups include:

  • Regular publications – create content that is interesting to your audience, helps build trust and maintain interest in the brand. Publications should be diverse: from educational to entertaining content.
  • Run targeted ad campaigns — by refining social media advertising, you can focus on the audience most likely to engage with your product, based on their demographics and interests.
  • Engage with followers – proactive commenting, private messaging and contests help increase engagement and strengthen customer relationships by showing attention to each user.

4. Influencer Marketing: Advertising through influencers

Influencer marketing is a strategy that enables startups to tap into the trust and authority of well-known figures to boost their brand visibility. Collaborating with influencers can significantly speed up the process of gaining trust from your target audience and raise awareness of your product. Here are the key advantages and strategies:

 

  • Increase brand awareness – Influencers have a large audience, and recommending them can greatly accelerate brand awareness, especially if they share your product’s values.
  • Attracting new audiences – collaborating with influencers allows you to reach new, untapped audience segments and increase subscribers and customers through the trust of their fans.
  • Establishing trust in a product or service — when a well-known figure endorses a product, their followers are more inclined to trust that it’s genuinely valuable. This is particularly effective if the influencer already holds credibility with your target audience, boosting the chances of a successful promotion.

5. Partner programs and referral schemes

Affiliate programs and referral schemes are some of the most effective ways for startups to drive sales by expanding their reach without spending a lot of money on advertising. These strategies not only help in attracting new customers but also in building a loyal network of partners, which helps in long-term business growth. Important aspects:

 

  • Attract new customers through referrals – affiliates share links to your product, helping you reach new audiences and grow your customer base.
  • Develop a network of loyal partners – affiliate programs help build long-term relationships with people interested in promoting your brand, which contributes to a steady stream of sales.
  • Encourage current users to promote your product — offering rewards and bonuses for referring new customers motivates users to actively share your startup with others.

6. E-mail marketing: Personal communication with every customer

Email marketing continues to be one of the most effective tools for fostering personalized, long-term relationships with customers. It enables you to not only keep users informed about new products but also strengthen your connection with each subscriber. Essential components of a successful email marketing strategy include:

 

  • Personalized emails – sending customized offers or reminders that take into account the recipient’s interests and behavior.
  • Automation – setting up automated emails that are sent based on user actions, which helps maintain engagement without additional effort.
  • Retargeting – reminders to users who have not completed a purchase or other action, which helps increase conversion.

7. Loyalty programs: Customer retention through bonuses and discounts

Loyalty programs are a powerful tool for retaining customers and driving repeat business. Offering bonuses and discounts fosters brand loyalty, which is crucial for the sustained growth of a startup. Key advantages include:

 

  • Incentivize repeat purchases – bonuses and cumulative discounts motivate customers to return and make new purchases.
  • Encouraging recommendations and referrals – loyalty programs can include bonuses for referring new customers, which helps to expand the base.
  • Fostering long-term relationships — continuous rewards and special offers strengthen brand loyalty and cultivate a dedicated audience.

8. Loyalty programs: Customer retention through bonuses and discounts

Loyalty programs are a great tool for retaining customers and increasing their value to the business. Providing bonuses and discounts helps not only to maintain interest in the brand, but also to build long-term relationships. Important aspects:

 

  • Incentivizing repeat purchases – bonuses and discounts motivate customers to come back and make new purchases.
  • Encouraging recommendations and referrals – loyalty programs can reward customers for referring new ones, which helps expand the base.
  • Building long-term relationships – regular promotions and exclusive offers reinforce brand commitment, creating a loyal audience.

9. Webinars and online seminars: Audience education and engagement

Webinars and online seminars are effective tools for startups to help not only communicate the value of a product, but also create a loyal and engaged audience. Benefits include:

 

  • Target audience education – hosting educational sessions helps explain how your product or service solves problems and meets customer needs.
  • Interactivity – being able to interact with participants in real time, answer questions and discuss relevant topics builds brand trust.
  • Long-term engagement – users can return for new webinars, which helps build a loyal audience and maintain interest in the product.

10. Gamification: Make the buying process interesting and engaging

Gamification is a way to engage the audience and make the interaction with the product more fun. The use of gamified elements helps startups not only attract attention but also increase customer engagement. Key elements of gamification:

 

  • Gamification elements – introducing bonuses, achievement rewards and contests helps to retain customer interest and encourage them to engage further with the brand.
  • Promotional games and sweepstakes – providing games and sweepstakes for users increases engagement and draws additional attention to the product or service.
  • Activity rewards – providing rewards for participating in promotions or activity on the platform encourages customers to return and actively use the product.

 

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Why Entrepreneurs Are Turning to Bitcoin Casinos for Profit? https://www.waterford-wi.org/why-entrepreneurs-are-turning-to-bitcoin-casinos-for-profit/ Fri, 31 Jan 2025 14:42:12 +0000 https://www.waterford-wi.org/?p=321 In recent years, cryptocurrencies—most notably Bitcoin—have firmly established themselves as pivotal elements in the financial ecosystem,

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In recent years, cryptocurrencies—most notably Bitcoin—have firmly established themselves as pivotal elements in the financial ecosystem, unveiling novel avenues for entrepreneurs to generate wealth. Among the myriad applications of these digital assets, one of the most compelling is the online gambling sector, where Bitcoin-based casinos have forged a distinct and rapidly growing niche. By merging the expansive potential of the cryptocurrency market with the unparalleled convenience and anonymity it offers, these casinos are quickly becoming the preferred platform for individuals seeking not only to engage with a global financial revolution but also to capitalize on it. This article delves into the reasons behind the increasing allure of Bitcoin casinos for entrepreneurs, examining the manifold advantages that this business trend affords those who venture into it.

Opportunities for high profits

Attractiveness of bitcoin casinos as a business

In addition to offering the chance to control the gaming process, Bitcoin casinos also entice business owners with other financial benefits. Bitcoin casinos have a considerable advantage over regular online casinos in terms of transaction costs. regular online casinos face large fees for currency exchange, payments, and a long withdrawal process. The blockchain that underpins these services reduces the expenses incurred by middlemen like banks and payment processors. This means that entrepreneurs can make a profit without giving up a significant portion of their revenue on commissions, as well as providing users with faster and cheaper ways to withdraw winnings. More information on the benefits of bitcoin casinos can be found at https://bonusescryptocasinos.com/.

Profit Potential

One of the primary reasons entrepreneurs are flocking to Bitcoin casinos is the significant profit potential. As Bitcoin and other cryptocurrencies gain popularity, more players are choosing to bet with them, creating new revenue streams for casino operators. The speed and low cost of cryptocurrency transactions allow for higher profit margins and reduced operating expenses. Additionally, the growing interest in cryptocurrencies boosts user engagement, directly impacting profits. By attracting new players and increasing betting volume, entrepreneurs are able to reap immediate benefits while positioning their businesses for future growth.

Access to the international market

Global audience

One of the most notable advantages of Bitcoin casinos for entrepreneurs is the absence of geographical limitations. Unlike traditional online casinos, which are frequently bound by licensing constraints and stringent legal frameworks across various jurisdictions, Bitcoin casinos offer distinct advantages:

  • Freedom from national regulations: The platform operates independently of individual countries’ legislation, which avoids a lot of bureaucratic hurdles.
  • Access to restricted markets: In countries where traditional gambling is banned or restricted, bitcoin casinos can remain accessible to users without violating local laws.

Attracting international players

Bitcoin as a universal currency offers unique opportunities to attract customers from all over the world:

  • Global accessibility: Thanks to bitcoin, players from any country can use one currency to bet and win, regardless of their country of residence.
  • Attracting a diverse audience: Unlimited geographical boundaries allow the casino to cater to players with different financial and cultural backgrounds, which helps to grow its customer base.

Simplified regulation and confidentiality

Less bureaucracy

For entrepreneurs well-versed in the challenges posed by the stringent regulation of traditional online gambling, launching and managing a Bitcoin casino presents considerable advantages. Unlike conventional online casinos, which are tethered to rigid legal frameworks and frequently encounter regulatory obstacles, Bitcoin casinos thrive within a more flexible and unrestricted operational landscape:

  • Fewer regulatory hurdles: By not being tied to a specific country and currency, bitcoin casino owners can bypass local legislation, making it much easier to open and run a business.
  • Simplified license process: In some jurisdictions, cryptocurrencies are not regulated as strictly as traditional cash, making it easier to obtain a license or no license at all. This allows entrepreneurs to enter the market faster without spending time on complex legal preparation.

Anonymity and security

For players who prioritize privacy in their financial transactions, Bitcoin casinos serve as an optimal platform. Cryptocurrencies like Bitcoin offer an elevated degree of anonymity and security:

 

  • Anonymous transactions: Players can place bets and withdraw winnings without having to disclose personal information, which is especially appealing to those who value their privacy.
  • Minimal risks for entrepreneurs: The absence of traditional banking data processing significantly lowers risks for casino operators. This, in turn, attracts players who may be hesitant to share their personal information with conventional payment systems.

Low fees and speed of transactions

Benefits of blockchain technology

The blockchain, on which bitcoin operates, offers significant benefits to casino owners due to its decentralized nature. Unlike traditional payment systems such as banks or processing companies, blockchain does not require intermediaries to process transactions. This has several key aspects:

 

  • No intermediaries: In traditional financial systems, banks and payment systems charge fees for each transaction. The blockchain network has no such intermediaries, which reduces transaction costs and allows transfers to be made with minimal fees.
  • Reduced transaction costs: In traditional gambling, casino owners often face high payment processing costs, especially for international transfers. Blockchain can significantly reduce these costs, ultimately helping to increase profits for entrepreneurs.

For businesses, this means the ability to reduce operational costs, improving the overall efficiency of the casino. They can provide more favorable conditions for players, which stimulates the growth of the customer base and user activity.

Instant Transfers

One of the key advantages of using Bitcoin in casinos is the instantaneous speed of transactions, a critical factor for both players and business owners:

 

  • Instant transfers: Unlike traditional methods, where withdrawals can take anywhere from hours to days, Bitcoin transactions are processed almost instantaneously. This enables players to access their winnings without delay, enhancing their satisfaction and fostering greater loyalty to the platform.
  • Minimal delays: Thanks to the use of blockchain technology, the process of transferring funds between players and casinos is not accompanied by long delays. For casino owners, this is an important factor, as it avoids the need to wait for confirmations and reduces the risk of transaction errors.

Fast and efficient transactions increase the overall competitiveness of bitcoin casinos, making them more attractive to users who value instant transactions and to entrepreneurs who can work with optimized processes.

Conclusion

With the rapid advancement of blockchain technology and cryptocurrencies, entrepreneurs are presented with a unique opportunity to enter the burgeoning world of Bitcoin casinos. This venture not only offers the potential to build a highly profitable business but also allows entrepreneurs to participate in a transformative trend reshaping the online gambling landscape. The global reach, enhanced privacy, minimal transaction costs, and instantaneous transfers all contribute to making Bitcoin casinos an appealing choice for both operators and players alike. As digitalization continues to expand and cryptocurrency adoption rises, entrepreneurs can position themselves to not only navigate the evolving industry but also to establish a thriving enterprise at the forefront of this revolution. A Bitcoin casino is more than just a lucrative opportunity—it is a strategic move to gain a competitive edge in a market where innovation is the key to success.

 

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How to drive sales with content marketing https://www.waterford-wi.org/how-to-drive-sales-with-content-marketing/ Fri, 10 Mar 2023 10:25:10 +0000 https://www.waterford-wi.org/?p=245 Content marketing is a great way to drive sales and increase conversions. It involves creating relevant,

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Content marketing is a great way to drive sales and increase conversions. It involves creating relevant, engaging content that helps potential customers learn more about your product or service and encourages them to purchase it. Content marketing can also be used to build relationships with current customers and keep them engaged with your brand.

What are the benefits of using peer reviewed article research?

Using peer-reviewed research in your content marketing can provide a number of benefits. Peer review provides credibility and reliability to your content, as it has been evaluated by experts in the field. It also allows you to demonstrate the authority and expertise of your brand in your chosen subject, which can help build trust with potential customers. Additionally, using peer reviewed research can help you stay ahead of the competition by providing insights and knowledge that your competitors may not have. Finally, using peer reviewed research can help engage readers and keep them coming back for more content.

Overall, using peer-reviewed research in your content marketing strategy is a great way to drive sales and increase conversions while also demonstrating your authority in the field. It can help you build trust with potential customers and keep them engaged, as well as provide insights that your competitors may not have. By leveraging peer-reviewed research in your content marketing strategy, you can ensure that you are delivering quality content to your target audience and staying ahead of the competition.

What is a content expert?

A content expert is someone who is highly knowledgeable and experienced in the creation of digital content. Content experts are often sought out for their expertise in copywriting, SEO, video production, graphic design, web development, or other related fields. They typically have extensive experience with online marketing strategies and understand how to create effective, high-quality content that will engage and persuade readers. Content experts also have a deep understanding of analytics, helping them to identify content that will be successful in reaching their target audience and driving conversions. They can help businesses create and curate content that is both compelling and valuable to potential customers. In short, a content expert should be an integral part of any business’s content marketing strategy.

Why your business needs a content marketing strategy?

Having a content marketing strategy is essential for any business that wants to succeed in today’s digital landscape. Your content strategy should be designed to meet the needs of your target audience and ensure that they are engaging with your brand on a regular basis. It should also include measures to track progress, such as analytics and tracking codes, so you can better understand the effectiveness of your marketing campaigns. Additionally, a good content strategy will include plans to optimize content for search engines and social media platforms, so that more potential customers can find your brand online. Finally, a content strategy should be regularly updated to keep up with changing trends and technology. In short, having an effective content marketing strategy is essential to ensure that your business succeeds in today’s digital world.

Our conclusion

Content marketing is an essential part of any business’s strategy for success in the digital landscape. It can help you reach more potential customers and increase conversions, as well as build relationships with current customers. Leveraging peer-reviewed research in your content marketing can provide additional credibility and reliability to your content, which can go a long way towards building trust with your audiences. Working with a content expert can help you create an effective content marketing strategy that meets the needs of your target audience and drives results. With the right content strategy, you can ensure that your business is staying ahead of the competition and succeeding in today’s digital world.

Overall, leveraging peer-reviewed research in your content marketing strategy can be a great way to increase sales and conversions, build trust with potential customers, and stay ahead of the competition. Content experts are invaluable for helping you create an effective content marketing plan that meets the needs of your target audience. With the right plan in place, you can ensure that your business is succeeding in today’s digital landscape.

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How Bitcoin Casinos Work in the UK https://www.waterford-wi.org/how-bitcoin-casinos-work-in-the-uk/ Fri, 11 Mar 2022 20:24:57 +0000 https://www.waterford-wi.org/?p=215 Gambling has existed in the UK since 1960 when it was first legalized by the law

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Gambling has existed in the UK since 1960 when it was first legalized by the law albeit currently the gamblers and operators are being guided by 2005 and 2014 law amendments on gambling. Research indicates that 70 percent of the adult population are involved in online gambling in the UK and that 3 percent are addicted to gambling. This begs the question, why has online gambling risen in the UK? With the introduction of bitcoins, most casinos shifted to online platforms in order to grasp more clients. Online gambling has been influenced by a myriad of issues. There are several factors that make bitcoin online casinos get popular in the UK and how they operate. This article defines all the factors word by word to make the reader grasp the concept easily.

 

Licensed Bitcoin Casinos vs Unlicensed non-Gamstop Crypto Gambling Sites

The UK has amended laws to regulate gambling in its jurisdiction. According to the 2014 laws, all the casinos must be licensed by the UK government. The licensed bitcoin casinos attract more punters as they believe that the licensed bitcoin casinos can’t scam them. The unlicensed BTC casinos don’t attract punters as they have not complied with the gambling laws in the UK. With the legalization of bitcoins in the UK, all the citizens and residents can purchase bitcoins easily hence engaging in gambling at the bitcoin casinos. The UK government collects revenue from the licensed bitcoin casinos hence legalizing the gambling in the casinos. It’s evident that gambling is growing at a higher rate in the UK as research indicates that the government of the UK collected 1.4 billion pounds from the gambling sites. The licensed bitcoin casinos assure the punters of their share once they win because they are legalized unlike the unlicensed bitcoin casinos which may be subject to theft and scamming. This has largely impacted the operation of bitcoin casinos in the UK.

 

Safety of crypto casinos

To assure all punters free of scams, the bitcoin casino operators must acquire an operating license too. An operator that is open and is widely known attracts more punters than a secretive one. Secondly, the blockchain casinos have reviews on their online platforms. This really helps the gamblers on deciding on which casino company they’ll use. They also get reviews from other punters. The punters are required to fill in their information during registration with the crypto casinos to avoid anonymity albeit the punters consider a bitcoin casino with a secure HTTPS which won’t leak their information to any other party. Lastly, punters enjoy privacy as their wins and losses are secretive unlike in the traditional casino shops. Currently the punters win and are assured of their money immediately and at their comfort zone. Theft cases in the casinos have declined due to online gambling in the bitcoin casinos in the UK as most punters transact with the operators online through bitcoins hence no need of roaming around with liquid cash. Punters in the UK consider safety as a key element before joining any cryptocurrency casinos. This impacts on the operation of bitcoin casinos in the UK.

 

Availability of different BTC games and flexibility

Bitcoin casinos like: One hash, Crypto games and King in the UK have embraced the online platforms hence enabling gamblers to access all sorts of games at a given time. The gamblers enjoy a myriad of games at a moment hence participating in a casino game they like or are confident with fully. Secondly, the punters enjoy the freedom of flexibility as they can gamble at any place of their wish because all the games can be accessed at the BTC online casinos online platforms. Unlike the traditional casinos, bitcoin casinos have enabled punters to maintain secrecy and gamble at their own convenience. Some punters who hate distractions and noise in traditional casinos can now gamble using their own mobile phones at any place.  The gamblers in the UK no longer need to travel and attend the crowded casino shops in order to gamble as they can do it at their own comfort. This has made the bitcoin casinos thrive in the UK over the past few years.

 

Simplicity of registration process at BTC casino sites

In the UK, the bitcoin casinos have an obligation to be licensed by the government. On the other hand, the punters have to register an account with the bitcoin casinos before engaging in the gambling. The registration process is simple as it involves few steps of identification and the punter is able to bet. Crypto casinos have a support system on their site who readily help the punters wherever or whenever they feel stuck. The sites also have a guideline of the steps to follow to bet successfully. This makes it simpler to use the sites hence attracting more gamblers to their sites. The punters may also request other players to guide them on the way to gamble on the sites. Finally, the traditional casinos had a maximum amount of bets or money a punter could stake on unlike the current bitcoin casinos where there are no limit bets. Punters can participate with as much as they wish hence allowing them to enjoy the freedom of spending their bitcoins. Once the punters win, they can easily withdraw their bitcoins without involvement of any other party therefore the ease in gambling has made the gamblers shift to bitcoin casinos in the UK.

 

Conclusion

Bitcoin casinos in the UK have rules and regulations on how they operate. The rules are amended laws by the government and the BTC casinos have to execute them. Crypto gambling sites have to find ways to attract more punters to their sites as the business has vehemently shifted to online platforms. They must offer ample services to the gamblers in order to ensure they don’t lose clients. The bitcoin casinos are consistently alleviating in the UK and in the coming years they’ll still experience the same. Licensed bitcoin casinos can be predicted to stay whereas unlicensed ones might all fall with time as they will be caught by the arms of law. All aspiring punters in the UK should find a licensed crypto gambling site and follow the instructions and guidelines in order to enjoy gambling. We can’t tell whatever the future holds but we can predict that BTC casinos will continue experiencing a higher growth rate in the UK as they operate with maximum efficiency to satisfy both the owners and the gamblers. This in turn makes a smile on the face of the government as it collects more revenue from crypto casinos.

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Small Business Lockdown Assistance Grants https://www.waterford-wi.org/learn-financial-planning-after-30s/ Sat, 03 Apr 2021 15:29:41 +0000 https://cipherthemes.com/demo/consulting-company-wordpress-theme/?p=45 The Small Business Lockdown Assistance Grants program will provide support to an estimated 15,000 small businesses to cover direct costs and lost bookings due to cancellations.

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The Small Business Lockdown Assistance Grants program will provide support to an estimated 15,000 small businesses to cover direct costs and lost bookings due to cancellations.

Eligible businesses must have an Australia-wide payroll of less than $4 million and be registered for GST, unless they have an ATO exemption. They should also be able to demonstrate losses incurred for perishable goods, cancellations or other unforeseen costs as a result of the ANZAC Day long weekend lockdown and subsequent restrictions.

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Temporary full expensing explained https://www.waterford-wi.org/retirement-planning-learn-from-experts/ Mon, 21 Sep 2020 15:34:32 +0000 https://cipherthemes.com/demo/consulting-company-wordpress-theme/?p=49 Temporary full expensing allows eligible businesses to deduct the full cost of eligible depreciating assets of any value, in the year they are first held, first used or installed ready for use for a taxable purpose.

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Temporary full expensing allows eligible businesses to deduct the full cost of eligible depreciating assets of any value, in the year they are first held, first used or installed ready for use for a taxable purpose.

The cost of improvements to existing eligible depreciating assets made during this period can also be fully deducted.

As part of the 2021–22 Federal Budget, the Australian Government announced it will extend the temporary full expensing for an additional year. This measure is not yet law.

Who is eligible?

Any business with an aggregated turnover of less than $5 billion is eligible to use temporary full expensing. An alternative income test applies for corporate tax entities with an aggregated turnover of more than $5 billion.

Your business can immediately deduct the business portion of the cost of eligible new depreciating assets, and cost of improvements to existing assets, in their 2020-21 and 2021-22 income tax returns.

For businesses with an aggregated turnover of less than $50 million, temporary full expensing also applies to the business portion of eligible second-hand depreciating assets.

Is my asset eligible?

You can claim the cost of any eligible asset required for your business (eg. the business portion of a new or used car, computers or tools/equipment).

There is no general limit on the cost of eligible assets you can claim, but there are specific cost limits on certain assets, such as passenger vehicles to which the car limit may apply.

The depreciating asset must be:

  • new or second-hand (if it is a second-hand asset, your aggregated turnover is below $50 million)
  • first held by you at or after 7.30pm AEDT on 6 October 2020
  • first used or installed ready for use by you for a taxable purpose (such as a business purpose) between 7.30pm AEDT on 6 October 2020 and 30 June 2022.

Certain primary production assets and buildings or other capital works are excluded under these measures. See the Australian Taxation Office (ATO) website for a full list of asset exclusions.

How can I claim temporary full expensing?

Your will be able to claim a temporary full expensing deduction in your 2020-21 tax return.

From July 2021, additional labels and updated instructions will be available for 2020-21 tax returns at ato.gov.au

You can choose to ‘opt-out’ of temporary full expensing for an income year on an asset-by-asset basis and claim a deduction using other depreciation rules.

You must notify the ATO in your income tax return that you have chosen not to apply temporary full expensing to the asset.

The choice to opt out is unchangeable and you must notify the ATO of the income year to which the choice relates by the day you lodge your income tax return.

If you use the simplified depreciation rules, temporary full expensing rules with some modifications apply.

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