Instant Asset Tax Write Off
Increased from $30.000 to $150.000
If you need an incentive to buy a new company car, the Australian Government has just issued a great one!
As part of the great economic stimulus plan, the new Instant Asset Tax Write Off threshold will provide cash flow assistance to help small and medium-sized businesses to stay in business and keep employees in jobs.
The Government has increased the instant asset write-off threshold from $30,000 to $150,000 as well as expanding it to include businesses with aggregated annual turnover of less than $500 million. The threshold applies is set up on a per asset basis, this means eligible businesses can immediately write‑off multiple assets.
WHAT TO DO NEXT
Have a chat with your accountant to find out if this is the right move for you and your business. You can also contact our Finance Manager on 6164 2000
This fantastic government incentive is only available till June 30th 2020 reverting back on July 1st, so don't miss out.
For more information on the Instant Tax Write Off program visit: https://www.ato.gov.au/Business/Depreciation-and-capital-expenses-and-allowances/Simpler-depreciation-for-small-business/Instant-asset-write-off/
Click on any of the links below to view our inventory.
*T's and C's on the EOFY offer can be viewed here: https://www.midlandmitsubishi.com.au/special/