BBI Scheme encourages business investment in Cat® generators and engines.
EXTENDED FOR FINANCIAL YEAR 21-22
As part of the Budget 2021–22, the federal government has extended the Instant Asset Write Off Scheme and Backing Business Investment for another year. As part of the government’s interaction of tax depreciation incentives to help businesses recover from the impacts of the coronavirus pandemic (COVID-19).
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.
To confirm details and for more information, visit: https://www.ato.gov.au/Business/Depreciation-and-capital-expenses-and-allowances/In-detail/Interaction-of-tax-depreciation-incentives/
See our range of new Cat® generators and Cat® engines.