Any accountants or experts who can give me advice please. Our business has a new profit of 250K this financial year. We have made purchase on some machines, plus bought a car ( Audi q3 ) and paid super into both directors account. We still have about 100K net.
The accountant gave us 2 options:
1) Buy another car upto 57K
2) Put more into super. We can add another 20K each for 2019 as we did not put much in ( Hus/Wife ) business partners.
Option 1 buying a car ; I buy on loan so cashflow stays in the bank account.
Option 2 super contribution : I push out another 50 K which can affect the cashflow as we try and expand next financial year.
Accountant said on 100K net we will pay 34.5K, on 50K we will pay 17.
So essentially saving 17 k on tax if we buy a second business car plus GST ( 22 k for a 57K car ).
Does anyone have any other solutions to save money rather than buying a car?
Thank you in advance.