There are many benefits of a new shed such as improved working conditions and staff retention. In this article we look at a sheds return on investment.
A Shed Can be A Tax Deduction
A shed can help you reduce your tax payable by reducing your taxable income. For example, temporary full expensing has also been introduced which means the full cost of any eligible asset can be written off.
- From 6th October 2020 until 30th June 2022, businesses with a turnover of up to $5 billion will be able to deduct the full cost of eligible depreciable assets in the year they are first used and installed.
- Assets can be of any value.
- There is no limit to the number of eligible assets that can be written off.
- The assets purchased must be installed and ready to use by 30th June 2022.
A Shed Can Increase Your Property Value
Having quality, heavy-duty sheds on your rural property will increase the value of your property if/when it comes time to sell.
A Shed Can Capture Waste Stormwater
By installing a rain harvesting and storage system your shed has the potential to capture a large amount of waste stormwater (depending on the area’s rainfall).
Harvesting this storm water can reduce operational expenses and help fire-proof your shed.
A Shed Can Maintain The Quality & Value Of Your Produce
A hay shed helps protect your hay from weather and heat damage and, if it’s a hot dip galvanised Action hay shed, it will do this year after year.
- Hay that isn’t heat or weather damaged is a lot more attractive to buyers because they know that quality and nutritious hay will boost livestock performance and productivity. As a result, buyers will be prepared to pay more, and this is reflected in the market value of shedded hay.
- The other advantage from a seller’s perspective is the market flexibility a hay shed offers. A hay shed allows you to store your hay with no storage fees and wait until market conditions are ideal and prices peak.
A Shed Can Improve Machinery Resale Value
- A machinery shed will help you receive the highest possible resale or trade-in price for your machinery and protects equipment and parts from weather damage.
- The security that a full-enclosed lock-up machinery shed provides also means your machinery is less likely to be targeted by thieves or vandals.
A Shed Can Save You Time & Money
- A workshop makes keeping your machinery in tip-top condition easier and maintenance can be done in even the most inclement weather.
- Like a machinery shed, a work shopt shed contributes to a better resale or trade-in value as well as saving time (and money) – there will be less time spent locating tools when they are stored in a designated area and less unscheduled downtime at harvest working on repairs.