Federal Government's $30,000 instant asset write-off has been increased to $150,000 as of the 12th of March 2020.

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If you need to replace, upgrade or require more walkie stackers or forklifts for your business, TASK Forklifts has a large range of new and factory refurbished electric walkie stackers, reach stackers, task support units, LPG and Electric forklifts and high reach trucks available and ready for dispatch.

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TASK Forklifts can help you with your forklift enquiries no matter what your business operation specialises in.

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Both of these incentives are available NOW and to ALL businesses with an annual turnover of less than $500 Million.

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Increasing the instant asset write-off from

$30k to $150K

 

1. Now applies to eligible assets with a purchase price up to $150K

2. Eligible assets can be New, Refurbished or Used

3. The $150k limit applies per asset, and there is no limit to the number of assets purchased

4. This initiative applies from the 12 March 2020 until the 30 June 2020

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Backing Business Investment (BBI)

 

1. 50% Instant Depreciation Write Off on eligible assets over $150K

2. Eligible assets must be NEW only (vehicles, plant and equipment)

3. There is no limit to the number of assets purchased

4. Replacement policy available on numerous assets

5. This initiative is available for 15 months only – until the 30 June 2021

6. 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 30th June 2020

 

Please Note: Contact your Taxation Professional / Accountant to see if the above is applicable to your business.

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*For more information visit - https://treasury.gov.au/coronavirus/business-investment

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