Instant Asset Write-off
Take Advantage at Mercedes-Benz Toorak.
In last year’s federal budget, the Government increased the instant asset write-off threshold to $30,000 and made it available to any business with turnover of less than $50 million.
The Government has now announced it will increase the instant asset write-off threshold to $150,000 with the write-off being available to any business with turnover of less than $500 million.
The new measure (which will apply to the purchase of new or second-hand assets) will allow businesses to invest in many types of business-related assets and obtain an immediate tax deduction for their expenditure.
The new measure will apply up until 30 June 2020.
With our extensive range of new, demonstrator or Certified Pre-Owned vehicles at two convenient locations, we’ll help you find the new car that works for you.
Purchasing a new car at tax time has never looked better.
*Please note, the depreciation a business owner can claim is still limited to $57,581 for cars, we recommend seeking financial advice from your own personal tax professional or accountant.
To find out more information visit the ATO information page.
Contact our team today on 8825 5000 or email email@example.com