Up to $150k* instant tax write-off!
Recently the Australian Government an increase for instant tax write-offs would increase from $30,000 to $150,000 until 30 June 2021.
- Are you a small/medium business with a turnover of less than $500m?
- Are you looking for a vehicle for business use prior to 30 June 2021?
- Are you purchasing a vehicle for less than $150,000 if not registered for GST? Or $165,000 (including GST) if registered for GST?*
If the above is applicable to you, you may be entitled to the $150,000 instant tax write-off.
*Please note this does not constitute advice to you on your own ability to claim this deduction for you and your business. Please refer to your accountant or tax agent. Vehicles must be delivered by 30 June 2021 to claim in the 2021 financial year. $150k excludes GST if the customer is registered for GST (an ABN alone does not mean someone is registered for GST), and includes stamp duty, delivery costs and accessories but excludes rego/insurance. It does not allow for invoice splitting. Applies to both new and used vehicles. This does not impact on your ability to finance the vehicle.