Earlier in the year, the government announced some economic stimulus packages to help out Australian small businesses. This included the raising of the Instant Asset Write Off threshold from $30K to $150K for businesses with an annual turnover of less than $500 million. Initially ending on June 30, the scheme has been extended until December 31, 2020.
What does this mean for you?
The scheme means that any new assets you purchase up to the value of $150K (excluding GST) between now and December 31st, 2020 are eligible for an immediate tax deduction. Eligible purchases include new vehicles, machines, and even attachments too.
Why not consider purchasing yourself a set of Hogan attachments to take advantage of this offer? You can now shop our range directly on our site: www.hoganengineering.com.au/attachments
For more information on this package, visit the Australian Tax Office website: www.ato.gov.au
