EOFY equipment finance is a powerful way for small businesses to maximise their tax deductions before June 30. EOFY is one of the busiest times for businesses investing in new equipment or machinery — but many aren’t sure how finance fits into tax planning.

Here are the answers to common questions small business owners ask about EOFY asset finance, deductions, and equipment loan options:

EOFY asset finance can be a strategic way to boost cash flow, access tax incentives, and modernise your fleet or operations. Whether you’re purchasing a new vehicle, upgrading machinery, or financing a key piece of business equipment, acting before June 30 can have significant benefits. Below, we break down what you can claim, how quickly you can get approved, and why businesses across Australia choose equipment finance at EOFY.

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Q: Can I claim a tax deduction if I finance equipment instead of buying it outright?

Yes. You may be able to claim a deduction under temporary full expensing, even if the asset is financed. The key requirement is that the asset is installed and ready for use before June 30. Always check with your accountant.

Q: What types of machinery and equipment finance are eligible for EOFY tax deductions?

We help finance a wide range of assets including:

• Machinery (excavators, loaders, skid steers, forklifts, trailers)
• CNC machines and workshop tools
• Trucks, trailers, commercial vehicles and director motor vehicles
• Agricultural and earthmoving equipment

EOFY asset finance is particularly popular with trade, construction, farming, and transport businesses.

Q: How quickly can I get finance approved?

With access to over 60 lenders, we often secure equipment loan approvals in 24–48 hours. We handle all the paperwork and provide a full contract summary and repayment schedule for your accountant.

Q: Can I refinance equipment I’ve already purchased?

Yes — through a sale-back arrangement or equity raise. If you’ve paid for an asset in the last few months, we may be able to reimburse you and turn it into a finance deal.

Q: Do I need a deposit to finance equipment before EOFY?

Not always. Many lenders offer low or no deposit options, depending on your financials and credit history. We help you find the right structure for your business equipment finance needs.

Q: Is used equipment eligible for EOFY tax benefits?

Yes. Both new and eligible used equipment can qualify for EOFY deductions if installed and ready for use before June 30. Used asset finance is a popular EOFY strategy.

Q: Can sole traders and small businesses access EOFY equipment finance?

Absolutely. We work with businesses of all sizes — from sole traders to companies — to secure fast, tailored asset finance solutions in time for EOFY tax planning.

Q: What are the benefits of EOFY asset finance vs. paying upfront?

Financing preserves working capital, offers flexible repayment terms, and often allows you to claim tax deductions — all without draining your business savings. You can invest in growth while keeping your cash free.

Q: What if I don’t know which lender is right for my equipment loan?

That’s where we come in. Woodward Finance compares over 60 banks and non-bank lenders to find the right match for your EOFY equipment finance needs — from low-doc options to structured repayments.

Q: Can I claim GST on financed equipment?

In many cases, yes. You may be able to claim GST credits up front (check with your accountant). Our EOFY finance clients often use this advantage to improve end-of-year cash flow.

Q: How do I get started?

Contact Woodward Finance for a quick quote or to discuss your EOFY finance strategy. We work with your accountant and ensure the process is fast and hassle-free.

Woodward Finance – Asset & Equipment Finance Brokers

Call Kim Woodward: 0439 313 541
Email: kim@woodwardfinance.com.au