Instant Asset Write-Off

The Australian Federal Government's Economic Stimulus Package provides an incentive for business to purchase vehicles and equipment to claim a one-off tax deduction.

Key information - Instant Asset Write-off:

• Available for purchase of vehicles and equipment between now and 30 June, 2020.
• Applies to New and Used Assets
• Applies to any number of assets as long as each individual asset value is less than $150,000
• Available for businesses with aggregated turnover of less than $500 million per annum
• For investments of $150,000 or more, businesses can deduct 50% of the asset cost in the first financial year of service providing it's installed before June 30, 2021

Assets may be able to be financed under a Chattel Mortgage facility and still allow a tax deduction for the current financial year under the instant asset write-off incentive.

Note: please refer to your accountant or tax adviser for your eligibility

We are open and fully available to support your business.

Please contact us if you are planning on purchasing any additional vehicles or equipment before end of financial year.


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