Instant Asset Write-Off Increased and Extended!
The Instant Asset Write-Off scheme has been increased and extended up to 31 December 2020, offering eligible Australian businesses an immediate tax deduction on equipment up to the value of $150,000 (previously $30,000).
The scheme provides cash flow benefits to businesses allowing them to immediately deduct purchases of eligible assets each costing up to $150,000. The threshold applies on a per asset basis, so eligible businesses can immediately write-off multiple assets.
The instant asset write-off was this year expanded to include businesses with an aggregated annual turnover of less than $500 million (previously only available for businesses with revenue up to $50 million).
To apply for a deduction, the equipment must be purchased and installed by 31 December 2020.
Click here to view more information on the Instant Asset Write-Off.
If you have been considering upgrading your equipment, now is the time to take advantage of this limited time offer.
The Highgate Group team is here to assist you with selecting the best equipment for your unique business needs. To discuss how you can take advantage of the $150K Instant Asset Write-Off, contact us on 1800 089 456 or email us here.
Proudly Australian-owned and family run, Highgate Group was established in 2002 and has quickly grown to become the packaging and processing solutions provider of choice for food suppliers throughout Australia and New Zealand.
Our best-in-class range includes strapping machines, carton sealing machines, pallet wrapping machines and knife sharpening equipment, all selected for their innovation, quality, reliabilty, performance, value and always with the customer in mind.