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Dave@SCBA
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Hi Elsee,

Not sure if you have kids or not but they can be very handy to distribute to use up certain offsets – for the 2009/2010 tax year the maximum amount $3,000 per minor (under 16)

In regards to purchasing a vehicle there can be some benefits (15% depreciation deduction if a SBE, plus interest if a a HP or Chattel Mortgage is taken out) but generally a vehicle is not an Income producing asset

Given you said “if things slow down in July, suddenly there’s no money to pay my wages or expenses anymore” it does not make alot of sense to add to your things to pay off.

There are many options you may consider to invest in such as shares, managaed funds or property (Obviously seek financial advisers… advice) keep in mind that these investments are not likely to give you an upfront deduction anyway, leaving you with less cash and the same tax problem!

It may be worth investing your hard earned back into your own business, that way you may be able to have more years of this “good problem”

Cheers,

Dave