The instant asset write-off and what it means for you and your new trailer.
Here is what this means for you as Australian business owners who need to keep operating and need to replace assets, increase assets and improve assets:
The response package includes increasing the instant asset write-off.
From 12 March 2020 until 30 June 2020 the instant asset write-off will be available.
So, if you buy your new trailer between now and 30th June essentially you will get an immediate deduction. This means that now is the time to invest in your next Belco Trailer.
● threshold amount is $150,000 (up from $30,000)
● eligibility has been expanded to businesses with an aggregated turnover of less than $500 million (up from $50 million).
Businesses can claim an immediate deduction (business portion only) for multiple assets, new or second-hand, provided each asset costs less than $150,000. Our trailers meet these price criteria and we can create fleets of trailers for you now so you can be ready to hit the ground running when this crisis is over or even working through these trying times.
This instant asset write-off forms part of the government’s measures to support businesses to withstand and recover from the economic impact of COVID-19.
Different eligibility criteria and thresholds apply to assets purchased and used, or installed ready for use, prior to 12 March 2020. So go to the ATO website to get the full lo-down on what you can and cannot do.
Make sure you have checked the eligibility criteria for your business.
We are on-site at work and ready to go, we are maintaining our staff in a fully operational business and we intend to stay that way, so you can trust the Belco Custom Trailers team to get your new trailer designed, manufactured and on the road as though we were not in the midst of a global health crisis.
Contact Us to discuss your requirements today