Finance Fusion
Finding the proper financing solution for your business can be a long and challenging task, so here at Finance Fusion Podcast, we want to provide you with the tools and resources to approach this process confidently. We've gathered a group of industry experts, including successful business owners and financing professionals, to share their experiences and strategies for securing the funds necessary to grow one's business. Our goal is to help you navigate the constantly shifting world of business and asset finance.
Finance Fusion
Exploring the Tax Implications in Business Finance ft. Davie Mach | Episode 02
In this episode of the Finance Fusion podcast, we're joined by Davie Mach, founder and director of Box Advisory Services, a multi-awarded team of new-age chartered accountants based in Sydney, serving contractors and small businesses.
Davie talks about his journey from being an employee to an employer building his own team, his insights on the secrets to real business success, and the evolution of business financing preferences in the modern world.
He also talks more in-depth about the tax implications of chattel mortgages and leases for off-balance sheet financing, fringe benefit taxes, instant asset write-offs and business acquisitions, and software investments and deduction limitations for businesses.
If you want to learn more about the various aspects of business finance, taxation, and strategic decision-making from a business owner and seasoned accountant like Davie, make sure to tune in to this episode!
Timestamps:
00:00 Intro
00:37 Davie's Background
01:38 From Employee to Employer: Building Your Own Team
04:47 Tech-Savvy Accountants: The Key to Modern Business Success
09:56 Exploring the Evolution of Business Financing Preferences
12:16 Decoding Commercial Financing: Chattel Mortgages, Finance Leases, and Rentals
15:20 Tax Implications of Chattel Mortgages and Leases for Off-Balance Sheet Financing
19:23 Fringe Benefit Taxes Explained
21:40 Decoding Business Vehicle Purchases: Thresholds, Caps, FBT, and GST Tips
28:05 Frequent Queries: Car Purchases, FBT, and Post Options
33:11 Challenges for Business Owners: Financing Alternatives and FBT Crackdown
35:47 Unnoticed FBT Noncompliance: Consequences for Business Vehicle Usage
38:42 Seizing Instant Asset Write-Offs: Key Actions for Business Owners
42:49 Instant Asset Write-Off and Business Acquisitions
46:06 Software Investments and Deduction Limitations for Businesses
48:41 Outro