A Great Time to Invest in Your Capital Equipment
Nessco Pressure Systems has backed the Government’s stimulus package announcement in regards to the economic impacts of the COVID-19 outbreak. Under this scheme, the instant asset write off amount has been increased to $150,000* from $30,000. This package is designed to encourage industry investment and is a great step towards helping protect the Australian economy during this period of uncertainty.
Nessco Pressure Systems has put in the time to understand the announcement and how you can take full advantage of the benefits the package has to offer.
What Does this Stimulus Package Include?
Businesses with a turnover $500 million and below will be able to deduct 50% of the cost of an eligible asset immediately, with existing depreciation rules applying to the balance of the asset’s cost, available until 30 June 2021.
The package also expands the instant asset write-off, with the threshold to be increased from $30,000 to $150,000, and access expanded to businesses from a turnover of less than $50 million to less than $500 million, available until 30 June 202
How Can our Business take Advantage of the Package?
Nessco Pressure Systems has a range of compressed air products that is ready for customers by the end of FY2020 to deliver this stimulus bonus.
The instant asset write-off and depreciation rules are available for multiple units, not just a one off purchase. Additionally, you may wish to look at a number of capital asset upgrade packages on your existing systems, which too fall under the same write-off and depreciation rules.
By reinvesting in your operations and replacing or upgrading your compressed air system before June 30 2020, you can claim an immediate deduction for each asset that costs less than the threshold.
We have sufficient stock of compressors and accessories that can be delivered and installed before 30th of June.
If you are looking to buy or replace your compressor, give us a call on 1300 290 638 or send us an email and one of our BDM’s will be available to help you choose the right product for your needs.
Click on the link below to find out more about your business eligibility.