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$150k Instant Asset Write Off & 50% Instant Depreciation Deduction

7 facts to assist in understanding what is now available from March 12th 2020 via the Economic Stimulus Package. BOTH of the 2 initiatives shown below are available to ALL businesses with an annual turnover of less than $500mil

 

$150,000 Instant Asset Write Off


  1. Any eligible asset (vehicles, machinery etc) with a purchase price of $150,000 or less (excluding GST) acquired from March 12th to June 30th 2020

  2. Asset can be NEW or USED

  3. The $150,000 limit is available for each individual asset and therefore multiple assets (totalling more than $150,000) can be claimed under this arrangement

  4. There is NO LIMIT to the number of assets acquired under this initiative

  5. Assets can be purchased outright or financed on Chattel Mortgage or CHP (Finance Lease will not work for this initiative)

  6. FAST TRACK (No Financials) Finance is available on most assets across a broad range of Financiers

  7. This initiative is ONLY available until June 30 2020 and as such is a very small window of opportunity

 

50% Instant Depreciation Write Off (on assets over $150,000)


  1. Any eligible asset (vehicles, machinery etc) with a purchase price GREATER THAN $150,000 (excluding GST) acquired from March 12th to June 30th 2021

  2. Assets MUST be NEW (NOT USED)

  3. There is NO LIMIT to the number of assets acquired under this initiative

  4. Assets can be purchased outright or financed on Chattel Mortgage or CHP (Finance Lease will not work for this initiative)

  5. FAST TRACK (Replacement Policy) Finance is available on many of these larger assets across a broad range of Financiers

  6. This initiative is available until June 30 2021

  7. This extended initiative will also be applicable to assets of $150,000 or less for an extra year once the $150,000 Instant Asset Write Off has expired on June 30 2020.

 

If you would like to know more, the Government Fact sheet link below provides an excellent explanation with many clear examples https://treasury.gov.au/sites/default/files/2020-03/Fact_sheet-Support_for_business_investment.pdf

 

The team at Victory LDV is here to help any customers to put in place any finance approvals which may be needed to take advantage of the significant tax breaks available under these programs, so please feel free to contact us on (07) 5589 7755 or complete the enquiry form below.

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Privacy: Your contact details are being collected by Victory LDV to enable us to record the details of the vehicle you are interested in and to consider the purchase of your trade-in vehicle. We may disclose your personal information to third parties to check whether and how, your vehicle is encumbered. From time to time,Victory LDV would like to contact you and to let you know about our products and services, including special offers. If you do not want us to do so, please let us know by contacting us. You can let us know at any time if you no longer wish to be contacted for these purposes. Your consent will remain current until you advise us otherwise. If you do not provide us with your personal information, we may not be able to consider any offer made by you. If you would like to access the information we hold about you or more information on our privacy policy, please contact us at https://victoryldv.com.au/.

Tweed Heads South

10-20 Minjungbal Drive,
Tweed Heads South NSW 2486

(07) 5589 7755
  • Mon - Fri: 8:00 AM - 5:30 PM
  • Sat: 9:00 AM - 5:00 PM
  • Sun: Closed
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