Taking advantage of the Instant Asset Write Off

Taking advantage of the Instant Asset Write Off

If you have been reviewing your vehicle fleet, equipment or machinery – now might be a great time for you to be taking advantage of the Instant Asset Write-Off Scheme. It’s nearly EOFY – which means you don’t have long before June 30 hits!

The Federal Government announced last month that they would increase the instant asset write-off threshold from $30,000 to $150,000 as part of the economic stimulus package. What does this mean for businesses? If you’re eligible, you can immediately write off the cost of assets. This includes vehicles, tractors, machinery, tools and equipment.

The big question – is your business eligible? If your business has an annual turnover of up to $500 million – you may be entitled to access this scheme. Remember – it’s still important that when you are selecting a finance product, you’re selecting one that’s right for your business – especially when purchasing an asset under this scheme.

If you’re wanting to speak to a local finance expert about taking advantage of the instant asset write-off scheme – please get in touch!

📞 0439 372 177
✉️ michael.hubbard@mjhfinance.com.au

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