- June 10, 2020
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150k Instant Asset Write-Off Extended Until December 31, 2020
Announced on the 9th of June, the Federal Government has extended the 150k instant asset write-off until the 31st of December, 2020. This will be a huge relief to businesses who have another 6 months to buy a machine, or multiple, and write-off up to 150k from their tax instantly.
The write-off extension comes at just the right time for businesses who have experienced slow trading due to COVID-19 and are only starting to pick up now. Many of these businesses aren’t in a position to fully capitalise on the 150k bonus, so the extended timeframe gives them an opportunity to fully benefit from the scheme.
Since the announcement of the 150k write-off back in March, Machines4U has seen a huge spike of traffic across all capital equipment industries, this has also been reflected in conversations with dealers across the country who have noticed a surge in buyers who are taking advantage of the 150k write-off.
Some dealers have seen traffic increases of over 100% to their website, while at Machines4U, we have seen huge increases with our own stats. In fact, in just the last 30 days we’ve delivered over 11,000 sales leads and had more than 675,000 unique buyers come to the site. This is just further proof the 150k instant asset write-off is popular and the extension will allow for this increased interest to continue.
To find out whether you’re eligible for the 150k instant asset write-off, or for information on any of the COVID-19 stimulus packages, check out our helpful guide here.