MaxiTRANS backs Australia’s COVID-19 stimulus package
MaxiTRANS says it backs the Australian government’s stimulus package intended to address the economic impacts of the COVID-19 outbreak in the country.
The package, announced March 12, is intended to provide confidence, ongoing employment and business continuity.
“The stimulus package announced last week is a positive for Australian business and the transportation industry as a whole,” said Dean Jenkins, MaxiTRANS managing director and CEO. “It is designed to encourage industry investment and is a great step towards helping protect the Australian economy during this period of uncertainty.”
Under the new package, businesses with a turnover below $500 million will be able to deduct 50% 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.
To help businesses take full advantage of the government’s announcement, MaxiTRANS says it invested the time to understand the rules of the package. The company already has a range of new and pre-owned trailers in stock and has moved forward with plans to produce more units so it’s ready for customers by the end of 2020 to deliver this stimulus bonus. For customer-specific trailers requiring longer production times, now is the time to begin discussions to ensure delivery before June 30.
“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 said. “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 (also) fall within the write-off and depreciation rules.
“For customers looking to invest and take full advantage of the government’s announcement, we encourage (them) 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.”
