Recently, the instant asset write-off threshold was increased from $30,000 to $150,000 and expanded access to business with an annual turnover of less than $500 million.

There is also a number of other tax incentive offers which run alongside this offer depending on your industry / size etc. We would suggest speaking to your accountant in regards to what you are eligible for.

Any new or second – hand assets first used or installed ready for use between 12^th March and 30^th June 2020, are also eligible for this scheme. This increased threshold enable immediate dedications on purchases of eligible assets and is applied per asset – so multiple assets can be written off.

The expansion will see over 3.5 million businesses benefit from the scheme.

What does the increase in threshold mean for me as a business owner?
This increase in the Asset Write-Off scheme enables greater cash flow for small to medium sized businesses who are looking to make larger plant and equipment purchases.

It will enable your business to withstand and help recover from the impact of the Corona Virus here in Australia through an increase access to cash and spending capital and a great reduction in tax payable at the end of the financial year.

See more of this incentive online here, https://treasury.gov.au/coronavirus/businesses

What could I purchase under this scheme?
Your options are endless. Across the industry we’ve seen a growth in spending on assets of machinery and equipment to help make work on site safer and easier during these challenging times.

Consider your current fleet and what assets you need,

• To take on larger projects
• To complete the projects your doing now in less time, and more precisely
• Make dust control more efficient on your job site.

Largely equipment you can purchase under the Tax Incentive Write-Off Scheme could include,

• Air purifier, air cleaner or air cube

• Dustcontrol Vacuum or Dust Extractor

• Standup Concrete Floor Grinder, upgrade your edge grinding method to the DSM250 Floor Grinder

• A larger single or three phase grinder

• Mixing station, pump or portable sprayer

• New application tools and spray kit for your concrete floor polishing projects

Other products could include Portable Generators, new Single 230v or Three phase 400v portable extension leads, Vacuum dust separators,  Floor lifting or Stripping machines,  Take a look at the complete range of equipment online at www.allprep.com.au

All Preparation Equipment is here to help make TOUGH JOBS EASY. Call our team today on 1800 422 992 to discuss your current or upcoming project requirements or options of equipment to invest to help you complete your projects, faster, safer & more efficiently.

Having worked in the flooring, construction and concrete industry for over 20 years, All Preparation Equipment provides hands on, leading advice and fast response to your current project requirement.

Given the current climate, we are committed to support and assist our new and existing customers in any way possible. Let’s talk.