Paths identified to accessing temporary economic stimulus package
MaxiTrans is offering to guide potential clients and customers looking to take advantage of the federal government’s economic stimulus package to invest in their equipment.
To help businesses take full advantage of the government’s announcement, MaxiTrans “has invested the time to understand the rules around package”.
The package, announced last Thursday, is intended to provide confidence, on-going employment and business continuity in response to the economic impacts of the coronavirus Covid-19 outbreak.
“The stimulus package announced last week is a positive for Australian business and the transportation industry as a whole,” MaxiTrans MD and CEO Dean Jenkins says.
“It is designed to encourage industry investment and is a great step towards helping protect the Australian economy during this period of uncertainty.”
The trailer-maker notes that, under the new package, businesses with a turnover below $500 million will be able to deduct 50 per cent of the cost of an eligible asset immediately, with existing depreciation rules applying to the balance of the asset’s cost, available until June 30, 2021.
The package also expands the instant asset write-off applicable for both new and used assets, with the threshold to be increased from $30,000 to $150,000, and access expanded to businesses from a turnover of less than $50 million to less than $500 million, available until June 30, 2020.
The company says it has a large range of both new and pre-owned trailers already in stock and has already moved forward with plans to produce more units so that it is ready for customers by the end of the financial year to deliver this stimulus bonus.
It urges customer needing specifically built trailers requiring longer production times, to begin discussions new to ensure delivery before June 30.
Read about MaxiTrans distributing Roadwest products, here
“It has been a challenging start to 2020 for our customers, acknowledging the devastation caused by the bushfires, on-going drought and now the impact that the Coronavirus is having on the industry,” Jenkins says.
“We want to reassure our customers that we are here to partner with them to help them grow and succeed, especially during these challenging times.
“We are reminding our customers that the instant asset write-off and depreciation rules are available for multiple units, not just a one off purchase.
“Additionally, customers may wish to invest in capital asset upgrades, including upgrading their suspension or fridge plants on existing trailers, which too fall within the write-off and depreciation rules.
“For customers looking to invest and take full advantage of the government’s announcement, we encourage to contact one of our national MaxiTrans dealers to discuss how they could benefit. All while knowing they are investing in high quality Australian-made products and supporting the Australian economy.”