24 March 2020
Until June 30 2020, businesses with an annual turnover of less than $500 million can write off an asset of up to $150,000. Prior to this businesses with an annual turnover of less than $50 million could write off an asset value up to $30,000.
"The measures are designed to support business sticking with investment they had planned and encouraging them to bring investment forward to support economic growth over the short term," said Prime Minister Scott Morrison in the media release on March 12 2020.
Until June 30 2021, businesses with an annual turnover of less that $500 million may apply an additional 50 percent deduction to an asset in the year of purchase. Similar to stimulus one, this will result in less tax paid.
Where we come in:
Here at Atlas Copco, we can still provide you with services to upgrade the efficiency of compressed air installations including data logging. Utilise these government stimulus packages to invest in an air compressor that will bring many benefits for years to come. Take a look at these examples of how the government stimulus packages can be utilised. Our air compressors provide a long term solution rather than a short term fix.
With an Atlas Copco air compressor, you will continue to recieve savings well after the timing of the stimulus packages has come to an end. Invest in a compressed air product that is efficient and reliable. Our air compressors are suitable for a wide range of industries including medical, mining, food and beverage and general manufacturing. Whether you are from Perth, Brisbane, Adelaide, Sydney, Darwin or Hobart; we have the right compressor for you!
Speak to someone today about your options by giving us a call on 1800 023 469 or email us here.