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.
"You’d be stupid not to try to cut your tax bill and those that don’t are stupid in business"
- Bono: U2