June 30 marks the End of the Financial Year (EOFY) in Australia. For business owners, this is not only a crucial time for filing tax returns and organizing finances, but also an ideal opportunity to review assets, optimize spending, and enhance the workplace environment. Office furniture is one of the key categories that many businesses choose to invest in during the EOFY period.

EOFY (End of Financial Year) is a crucial financial milestone that every Australian business must pay close attention to. In the lead-up to this date, businesses typically:

• Finalize accounts for the previous financial year.
• Organize records of income and expenses.
• Prepare reports for submission to the Australian Taxation Office (ATO)
• Seek opportunities for legitimate and effective tax deductions.

During this period, businesses can take advantage of tax benefits such as the Instant Asset Write Off and simplified depreciation rules. This means that any eligible assets such as office furniture purchased and put into use before EOFY may be fully deducted as expenses in the same financial year, provided they meet ATO requirements. This can significantly reduce the taxable income for the year.

Why Buy Office Furniture Before EOFY?

Many businesses choose to upgrade or replace office furniture before EOFY, and for good reasons:

• Financial Benefits through Tax Deductions: Updating essential items such as desks, chairs, meeting tables, and storage units can qualify for tax deductions under eligible schemes.
• Use-It-or-Lose-It Budget Policies: Some companies operate under annual budget frameworks where unused funds do not roll over. Making purchases before EOFY ensures optimal use of allocated budgets.
• Improved Employee Experience: A mid-year refresh of the office environment can energize the team, boost morale, and increase overall productivity.

A New Financial Year Brings New Office Energy

Upgrading your office isn't just about aesthetics. A well-designed, comfortable workspace can enhance your company’s overall competitiveness by:

• Boosting Focus: A clean, ergonomic setup supports higher concentration and efficiency.
• Supporting Health: Ergonomic chairs and height-adjustable desks help reduce physical strain from prolonged sitting.
• Elevating Brand Image: A tidy, well-furnished office leaves a strong first impression on clients and visitors.

How to Get the Most Out of Your EOFY Purchase

• Choose Durable, High-Quality Furniture: Invest once in reliable products to minimize replacement and maintenance costs.
• Prioritize Ergonomic Design: Taking care of your team’s health is an investment in your company’s future.
• Plan Your Purchase Timeline Wisely: Early planning for procurement and installation helps ensure smooth EOFY reporting and maximizes financial benefits.

Limited-Time EOFY Offer Now On!

To help Australian businesses gain a head start in the new financial year, ANZHAP is offering a special EOFY promotion. Enter the code EOFY5OFF at checkout to enjoy an exclusive discount.

For purchases over AUD 8,000, you can enjoy an extra discount on top of the current offer. Feel free to contact us for a customized quote.