GO + Range Attachments

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Buying materials handling attachments?
It will pay you to read this first!

ALL YOUR QUESTIONS ABOUT 
THE $20,000 TAX BREAK ANSWERED.

ALL YOUR QUESTIONS ABOUT THE $20,000 TAX BREAK ANSWERED.

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If you’ve been thinking about buying some new materials handling attachments, now is the perfect time to do so.

The Federal Government’s 2015 Budget has introduced an incentive scheme they’ve called “Accelerated Depreciation”.

As a small business, you are no doubt aware of the basic principal – an immediate tax deduction for any individual assets you buy costing less than $20,000.

However if you have any questions about the Tax Break, you’ll find the answers here.

Q. What is the $20,000 tax break?

A. The $20,000 tax break is a $1.75 billion dollar scheme designed to let small businesses claim immediate tax deductions for purchases up to $20,000. Currently the limit is $1000.

 

Q. Is this free money, like the previous Government’s Stimulus package?

A. No, it simply lets you write off your tax.

 

Q. What’s the bottom line?

A. It will mean improved cash flow for your business and less red tape.

 

Q. Who is eligible?

A. All Australian businesses with an annual turnover of less than $2 million, who have an ABN and complete ongoing Business Activity Statements (BAS).

 

Q. When does this scheme start?

A. The scheme came into effect on Budget Night (12 May 2015) and is effective immediately.

 

Q. When does it END?

A. The scheme will run for two years and will finish on 30 June, 2017.

 

Q. What can I buy?

A. Any major asset involved in running a business is covered. Amongst the many claimable items are: cars, utes, vans, Ag bikes, photocopiers, air conditioning systems, computers, security systems and in fact virtually all materials handling attachments sold by KerFab.

 

Q. What CAN’T I buy?

A. You cannot use the money to buy such things as stock for your business, horticultural plants and in-house software. In short, anything that has specific depreciation rules.

 

Q. Am I limited to just a one-off $20K purchase?

A. No, the $20,000 limit applies to each individual item – you can apply the $20,000 rule to as many individual items as you like.

 

Q. What about assets OVER $20,000?

A. Assets over $20,000 can be added together (‘pooled’) and depreciated at the same rate… 15 per cent in the first income year, and 30 per cent in the following year.

 

Hurry! Purchase an attachment from KerFab before 30 June 2015 to claim your 100% Tax Deduction NOW!

For more details, call the team at KerFab today on 1800 818 079 or click here

ALL YOUR QUESTIONS ABOUT THE $20,000 TAX BREAK ANSWERED.

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