Australian Economic Stimulus Package Announcement
What you need to know about the recent Australian Government stimulus package announcement and how your business can benefit.
MaxiTRANS has backed the Government’s stimulus package announcement in address to the economic impacts of the COVID-19 outbreak. The stimulus package is a positive for Australian business and the transportation industry as a whole. It is designed to encourage industry investment and is a great step towards helping protect the Australian economy during this period of uncertainty.
MaxiTRANS has put in the time to understand the announcement and how you can take full advantage of the benefits the package has to offer.
What does the stimulus package include?
Businesses with a turnover below $500 million will be able to deduct 50 per cent of the cost of an eligible asset immediately, with existing depreciation rules applying to the balance of the asset’s cost, available until 30 June 2021.
The package also expands the instant asset write-off, with the threshold to be increased from $30,000 to $150,000, and access expanded to businesses from a turnover of less than $50 million to less than $500 million, available until 30 June 2020.
How can your business take advantage of the stimulus package?
MaxiTRANS has a range of both new and pre-owned trailers already in stock and has already moved forward with plans to produce more units so that it is ready for customers by the end of FY2020 to deliver this stimulus bonus.
For customer specific built trailers requiring longer production times, now is the time to begin discussions about your order which will need to be placed by the end of March to ensure delivery before 30 June, 2020.
MaxiTRANS is reminding customers that the instant asset write-off and depreciation rules are available for multiple units, not just a one off purchase. Additionally, you may wish to look at a number of capital asset upgrade packages on your existing trailers, which too fall under the same write-off and depreciation rules.
For customers looking to invest and take full advantage of the Government’s announcement, we encourage to contact one of our national MaxiTRANS Dealers to discuss how you could benefit. All while knowing you are investing in high quality Australian-made products and supporting the Australian economy.
*Please note MaxiTRANS does not provide financial advice to its customers, MaxiTRANS suggests customers contact their own financial provider to discuss.