The Federal Government is backing Mackay business as the Coronavirus continues to have a global impact.
Until June 30, the instant asset write-off has increased from $30,000 to $150,000.
You can use the instant write-off to claim an immediate deduction when you purchase a new or used car.
If you have an ABN and an annual turnover of less than $500 million, you may be eligible for this stimulus package.
We encourage you to seek advice from your accountant.
For more information about the Stimulus Package visit the ATO website - https://www.ato.gov.au/General/New-legislation/The-Australian-Government-s-Economic-Response-to-Coronavirus/.