MAXIMISE PRODUCTIVITY THIS EOFY

With CAP ezi-finance

Capricorn, Australasia’s largest automotive cooperative, is helping its Members access the capital they need to expand through CAP ezi-finance.

According to Capricorn’s State of the Nation Report in 2022, 40 percent of Capricorn Members are planning to increase the capacity of their workshop.

As the End of the Financial Year is near, Capricorn is encouraging its Members looking to improve and expand their business to use the End of Financial Year tax incentive opportunity and Capricorn Finance to ensure their workshops are up to date with the latest equipment and tool technology.

“Capricorn understands that upgrading existing equipment or purchasing new equipment can significantly increase a workshop’s capacity and capabilities. Capricorn Finance is available to Members to help them achieve this,” Capricorn Chief Executive Officer of Automotive, Bradley Gannon, said.

Updating essential workshop equipment allows increased customer capacity and the ability to work on more modern vehicles, while state-ofthe-art diagnostic equipment ensures correct and timely parts replacements.

Many Capricorn Members reportedly benefitted from the 2022 End of Financial Year equipment loans with the most popular items purchased being hoists and lifts, diagnostic scan tools, tyre changers, wheel aligners and wheel balancers, aircon service equipment and brake lathes.

As cars become increasingly complex and electric vehicles become more prevalent, Capricorn says it ensures workshops are equipped for success with industry competitive rates, zero set-up fees and the ability to earn Capricorn Rewards Points.

“Capricorn is here to help our Members finance the equipment that they need to build a stronger business,’ Bradley said.

Capricorn encourages you to maximise the Federal Government’s Temporary Full Expensing incentive for business plant, tool and equipment purchases. Qualifying businesses can immediately claim helping build much needed capacity in the automotive service and repair sector in Australia. “We look forward to engaging with the government on how we can best achieve shared goals for the industry and leverage the new migration policy to address the skills shortage in our sector.” For links to further information on the government migration strategy, please visit www.aaaa.com.au/news/ new-migration-strategy-positive-step-for-automotiveskills-shortage/ the business portion of the cost of purchasing or upgrading an eligible asset on their next tax return. Any eligible asset that is first used, held or installed and is ready for use for a taxable purpose before June 30, 2023, can be claimed. (For full details, visit the Australian Taxation Office website –www.ato.gov.au).

Capricorn says it offers all Capricorn Members an easy way to purchase equipment loans with some Members receiving pre-approval for loan amounts up to $30,000.

Interested Members are encouraged to discuss their options with the Capricorn Finance team by emailing lending@capricorn.coop or calling 1800 327 437.

For more information about Capricorn membership, visit www.capricorn.coop