Instant asset write-off scheme applies to Cat® generators and engines
EXTENDED FOR FINANCIAL YEAR 21-22 – The Australian Government has decided to increase the tax write-off threshold from $30,000 to $150,000.
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).
When you buy a New or Used Cat® genset or a Cat® marine or industrial engine, you may be able to take advantage of the Government’s latest stimulus package.
You may also have the whole purchase financed through Cat® Financial.
It is a struggle for small business owners during these challenging times and you can benefit from immediate deductions of up to $150,000.
You may be able to claim the deduction through your tax return, in this financial year.
This scheme expires June 30th 2022, this is your best time ever to buy a new or used generator or engine for your business.