The instant asset write-off has been extended
There's good news if you are an ABN holder. The Australian Government has extended the scheme which could allow you to save thousands on your next commercial vehicle.
Earlier in the year, as part of its response to the global Covid-19 pandemic, the Government increased the instant asset tax write-off threshold from $30,000 to $150,000. It also opened the scheme up to include businesses with aggregated annual turnover of less than $500 million.
That scheme was due to close at the end of the 2019/20 tax year, but has now been extended until 31 December 2020.
This is a great opportunity to buy a new vehicle for your business, whether that be a Volkswagen Amarok ute, Crafter van, Transporter van or Caddy van. Or perhaps you need something more "corporate", such as a Golf or a Tiguan. Whatever your requirements, we are here to help.
WHAT TO DO NEXT
First, we recommend you seek independent financial advice and refer to www.ato.gov.au to confirm eligibility, but please know we are also here to help. You are welcome to call our Finance and Sales Managers on (08) 9330 0777 for additional assistance.
You can also browse our vehicles online and choose the one that best suits your business needs.
TIME FRAME
This Government incentive has now been EXTENDED until 31 December 2020. Normal rules about tax incentives will revert back on 1 January 2021.
MORE INFORMATION
For more information on the Instant Tax Write-Off program and to find out whether you might be eligible, please click here.
