NEWS & EVENTS

BBI Scheme

BBI Scheme encourages business investment in Cat® generators and engines.

The Australian government introduces the Backing Business Investment (BBI) scheme in order to encourage a stronger economic recovery and assist businesses* to invest.

The Government is introducing a 15-month investment by accelerating depreciation deductions of 50% of the cost of an eligible asset on installation, with existing depreciation rules applying to the balance of the asset’s cost. Eligible assets** include new Cat® gensets or Cat® marine or industrial engines.

Take advantage of the Government’s latest stimulus package, call us today. Your Cat power system must be first used or installed by 30 June 2021 to obtain this benefit.

 

Here’s how it works:

Purchase any new Cat power system from EPSA under the new BBI and you can claim a depreciation deduction of 50 per cent of the generator’s value in the 2020-21 income year. This should be more advantageous to your business than under existing tax arrangements.

You can also have your generator purchase financed through Cat® Financial.

 

See our range of new Cat® generators and Cat® engines.
To confirm details and for more information, visit treasury.gov.au/coronavirus.

 

 

*Eligible businesses with aggregated turnover below $500 million, purchasing certain new depreciable assets.
**Eligible assets are defined as new assets that can be depreciated under Division 40 of the Income Tax Assessment Act 1997 (i.e. plant, equipment and specified intangible assets, such as patents) acquired after announcement and first used or installed by 30 June 2021. Does not apply to second-hand Division 40 assets, or buildings and other capital works depreciable under Division 43.