Take advantage of the Instant Asset Write-off.
Find out more about government support.
The COVID-19 situation continues to create uncertainty and disruption for many in our community, particularly for business owners who have been hard hit by restrictions on movement.
However not all business can stop. At Mercedes-Benz Brighton we would like to acknowledge the wonderful work done by transportation companies, both big and small who continue to keep our country moving by ensuring we have essentials like food, goods and medical supplies.
And if your business needs to keep moving, please be assured that our dealership remains open to ensure the maintenance and safe operation of your vehicles.
We also remind you that there is significant government support for business during this time, including the instant asset write-off of up to $150,000 for small businesses.
But what does this mean for you?
Under instant asset write-off, eligible businesses :
- Can immediately write-off the cost of each asset that costs less than the threshold, as outlined by the Australian Taxation Office criteria (see below link)
- Can claim a tax deduction for the business portion of the purchase costs in the year the asset is first used
Changes from 12th March 2020
- The threshold amount increases to $150,000 (from $30,000)
- Eligibility criteria has been expanded to cover business with an aggregated turnover of less than $500 million (up from $50 million)
Rest assured, that Mercedes-Benz Brighton can assist you with your vehicle needs, with a large number of New and Demonstrator vehicles available.