End of Financial Year (EOFY) sales
If you are looking to make big-ticket purchases like a new car or equipment for your business, be strategic about when you buy. Waiting until EOFY sales can often result in significant savings on purchases.
Implementation and cost
- Decide whether the purchase needs to be immediate.
- If the purchase can wait, hold off until EOFY sales.
- If you have any large purchases to make in the following year, consider making them early to take advantage of EOFY sales.
- If there is high demand and low supply (e.g. Houses, caravans, SUV’s as a result of COVID), consider holding off your purchases until the market cools down again if you can.
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"You’d be stupid not to try to cut your tax bill and those that don’t are stupid in business"
- Bono: U2