Everyone stands to gain in the long run with the wage and personal income tax cuts being the core focus of the 2019 Australian Federal Budget.
In addition to the personal income tax cuts, SME’s are also welcoming an immediate tax off-set for the next 2 years which should help with the long-overdue budgeting constraint to renovate or fix lower-priority working space facilities. Regardless if you are gaining extra budget from your personal income tax or tax off-set in your SME business, utilise the extra capital in a sensible fashion to maximise the impact and longevity of those funds is definitely the clever way to go.
Allocating extra budget into renovation for the home or the workspace serves as a long-term investment for your real-estate asset as well as well-being and workspace culture. Define some character in the spaces that you occupy on a daily basis; make it exciting to go to work and a joy to go home.
With the less than healthy property price down-turn trends and various other factors in the market pointing to a crippling economy in the near future, it has never been a better time to focus inward on improving assets that we already have ownership of.