Take Advantage of the Governments Increase to the Instant Asset Write-Off Threshold.
The instant asset write-off scheme introduced earlier this year as an economic response to COVID-19 has received a boost in this week’s federal budget, with the government extending eligibility, asset value and timeframe of the incentive.
Under the new 'temporary full expensing' measure, businesses with a turnover of up to $5 billion, will be able to deduct the full cost of new, eligible, depreciable assets of any value in the year they are first used or installed ready for use.
Full expensing also applies to eligible second-hand assets for small and medium-sized businesses with aggregated turnover of less than $50 million.
For businesses with a turnover between $50 million and $500 million, second-hand assets under $150,000 can still be written off completely under the enhanced instant asset write-off scheme.
With the Instant Asset Write-Off Scheme extended until June 30th 2022, it’s the perfect time to purchase the new Mazda BT-50!
View All Stock