MaxiTrans sees federal financial fillip coming industry's way


Trailermaker supports government plans for safer roads and investment in equipment

MaxiTrans sees federal financial fillip coming industry's way
MaxiTrans welcomes reasons to modernise

 

MaxiTrans is backing the federal government’s plans to support Australian businesses to invest, grow and create more jobs through the latest targeted tax incentives.

The trailing equipment and parts firm notes that the introduction of the temporary full expensing and access to previous year losses, will enable more customers in our industry to access and invest in new and safer transport equipment.

Businesses with a turnover of up to $5 billion will be able to write off the full value of any new eligible asset they purchase for their business.

For small and medium businesses, with a turnover of up to $50 million, this will also include second-hand assets.

"This announcement is a positive for Australian business and the transportation industry as a whole and a great step towards recovery of the Australian economy," MaxiTrans MD and CEO Dean Jenkins says.

"The introduction of temporary full expensing will drive transport business investment and encourage the purchase of new and safer transport equipment for the industry."

The new support announced recently is extended to June 30, 2022.


Read how the company has embarked on a recruitment drive, here


"This is a terrific show of support from the Government who see the value in transport companies investing in upgraded transport equipment, which includes new trucks and trailers," Jenkins says

"The increase in the size of eligible businesses from the previous instant asset write-off incentive, means more of our customers are now able to access the Government incentive.

"This, combined with the ability to carry-back tax losses from previous years, will give our larger customers more certainty for the future to move ahead with medium term plans for fleet replacement during what will be a short term effect of Covid-19."

The Budget announcement also sets out the government’s $110 billion infrastructure pipeline, including $14 billion in new and accelerated infrastructure.

"In conjunction with our industry partners, MaxiTrans has been a driving voice pushing for a safer and more efficient road network," Jenkins says.

"The additional $2 billion into targeted road safety is a huge leap forward towards achieving a safer road network for all road users."

MaxiTrans says its understanding is that the temporary full expensing incentive is available on all new capital purchases, not just a one off purchase.

It also extends to capital upgrades to existing equipment which customers may wish to take advantage of," it adds.

"This includes axle and suspension replacements, new curtains or tarps and replacement fridge plants, in addition to many other upgrades accessible through MaxiTrans service and parts."

The company encourages customers looking to invest and take full advantage of the government’s announcement to contact their accountant or financial adviser to discuss how they could benefit.

 

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