Tax Advantages of Investing in an Ice Bath for Your Business

Table of Contents
  1. For Fitness or Recovery Business
  2. For Non-Fitness or Recovery Business
  3. Tax Deduction Details
  4. Example of Tax Savings
With the extension of the instant asset write-off scheme, now is an ideal time for businesses to invest in assets like ice baths. This investment not only enhances your facilities but can also lead to significant tax savings.
For Fitness or Recovery Businesses:
Introducing an ice bath to your business can create a new revenue stream, attract new members, and improve retention. Ice baths are popular in recovery and wellness, making them a valuable addition to services offered by gyms, spas, and sports facilities.
For Non-Fitness or Recovery Businesses:
Investing in an ice bath isn't just for fitness-focused companies. Non-fitness businesses can also benefit by providing employees with access to ice baths for physical and mental recovery. This can improve overall employee wellbeing, leading to enhanced performance and productivity.
Tax Deduction Details:
Under the current tax provisions, businesses can claim the full purchase price of the ice bath as a tax deduction in the financial year it was purchased. This immediate deduction can significantly reduce the taxable income of your business, providing a boost to your cash flow.
Example of Tax Savings:
Imagine your business purchases an ice bath for $5,000. With a corporate tax rate of 27.5%, this purchase could reduce your tax by approximately $1,375.
Invest Now for Maximum Benefits:

The extended deadline for the instant asset write-off until June 30, 2024 provides a timely opportunity to enhance your business facilities with an ice bath. By purchasing before the end of the financial year, businesses can enjoy the tax benefits sooner.

Let us look at an imagined example of how the extended instant asset write-off works.

John runs a small office. His team of 4 had been working from home during lockdown. Things have been a bit strange with some people working back in the office, and some less keen to return: and he wants to create a healthy, positive environment so they all feel comfortable.

He buys 2 new PlusLife Ice Baths from the PlusLife range range, as part of an effort to improve productivity in the office and increase workplace moral. Having spent a total of $14,000, at the small business company tax rate of 27.5 per cent, John could save $3850 in tax as a result of the purchase.

Note: This information is for general purposes and should not be taken as specific financial or tax advice. Consult with your accountant to understand how you can fully benefit from this scheme.

PlusLife Signature Ice Bath

Total Price from $7,450 $5,980 (Save $1,470)