The Australian Government have announced that the threshold for instant asset write-off is now $150,000. Businesses with a turnover of less than $500m should be able to immediately deduct purchases of depreciating assets costing up to $150,000 (excluding GST) on equipment until the 31st July.
This $150,000 limit is available for each individual equipment and therefore multiple items can be claimed under this arrangement. There is NO LIMIT to the number of items that can be acquired under this initiative.
CMI is also offering the facility to pay a deposit until the 31st of July
and pay the balance only in February 2021*
National Manager – Corey Sleeman | +61 413 055 538
VIC & TAS – Daniel Grist | +61 413 055 549
NSW & ACT – Scott Angove | +61 413 055 546
SA & National Accounts – Lee Stevens | +61 413 055 539
QLD/NT & National Accounts – Brian Vayler | +61 413 055 547
Quick facts to assist in understanding what is now available from March 12th 2020 via the Economic stimulus package.
$150,000 instant asset write off
a) Any Eligible asset(machinery, etc) with a purchase price of $150,000 or less (excluding GST) acquired from March 12th to July 31st 2020
b) Asset can be NEW or USED
c) The $150,000 Limit is available for each individual asset and therefore multiple assets (totalling more than $150,000) can be claimed under this arrangement.
d) There is NO LIMIT to the number of assets acquired under this initiative
e) Assets can be purchased outright or financed
f) This initiative is ONLY available until July 31st 2020 and as such is very small window of opportunity.
TO READ MORE ABOUT THE INITIATIVE CLICK HERE
FOR THE TERMS AND CONDITIONS CLICK HERE
Terms and Conditions apply