Recent changes to small business taxation in Australia has seen the instant asset write-off threshold increase to $30,000!
This allows small & medium business owners (with an annual turnover of less than $50million per year) to claim immediate tax deductions on business related assets this financial year!
You can purchase any vehicle under $30k (including accessories) and reap immediate rewards. So what are you waiting for? See what's available below:
To be eligible, the cost of the asset must be less than $30,000 i.e. $29,999.99 and below. For a motor vehicle, the following have to be included in the cost:
- Stamp Duty
- Accessories fitted to the vehicle at time of acquisition (eg: window tinting)
The following has to be excluded:
- Goods and services Tax (GST)
- Compulsory Third Party (CTP) Insurance and Vehicle registration fees
Available on new or used vehicles under $33,000 Drive Away!