While 2020 was a slow year, 2021 sure has flown by and we are quickly approaching EOFY 2020-21.
During this time, businesses can take advantage of several government initiatives designed to keep the economy booming. In particular, this benefits businesses who are looking to purchase capital equipment for their jobs.
- Instant asset write-off
The instant asset write-off scheme is listed by the ATO as “Eligible businesses can claim an immediate deduction for the business portion of the cost of an asset in the year the asset is first used or installed ready for use.”
How much can I deduct?
This means that businesses can deduct some of their equipment costs including water, vacuum and all ready-to-work trucks for up to $150,000. To know if your business is eligible, you can ready the eligibility criteria on the ATO website.
For assets purchased between 12 March 2020 until 30 June 2021, the instant asset write-off threshold amount for each asset is $150,000 (up from $30,000).
Is my business eligible?
This eligibility for this was originally for business with aggregated turnover of less than $50 million, however this has now been extended to $500 million.
Furthermore, 6 October 2020 until 30 June 2022, temporary full expensing allows a deduction for “eligible second-hand assets” which means you may be also able to deduct a second hand truck.
Read more about the instant asset write-off by clicking here.
- EOFY Sales
Did you know that EOFY is one of the best times to purchase a truck? With several limited-time sales and heavily discounted stock, it is the perfect time to take advantage of a great deal.
Interested in learning more? Simply leave your contact details by clicking here with the message “EOFY Deals” and our sales team will let you know what we have on offer.
These exclusive EOFY offers are limited, so contact STG today to avoid disappointment.
- Keeps you prepared
With the economy picking up again after COVID-19, infrastructure projects have been on the rise with no sign of the construction industry slowing down.
In fact, the federal budget has committed a further $15.2 Billion in infrastructure spending across Australia. This decision is part of the Federal Government’s plan to help Australia bounce back stronger than ever from the COVID-19 pandemic.
This level of spending means a substantial increase in construction jobs which require ready-to-work trucks. Purchasing a truck before EOFY means being prepared and not losing that dream job to a competitor. STG trucks are in-stock and ready to go Australia-wide, ensuring you can be prepared for that next job.
With those three reasons in mind, what are you waiting for? Give us a ring today on 1300 998 784 for an obligation-free quote.