MaxiTRANS Backs Government Plans for Safer Roads and Investment in Equipment for Industry
MaxiTRANS has backed the Federal Government’s plans to support Australian businesses to invest, grow and create more jobs through the latest targeted tax incentives. 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,” said Dean Jenkins, MaxiTRANS Managing Director and CEO. “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 30 June 2022.
“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.”
“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,” said Dean.
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. The additional $2 billion into targeted road safety is a huge leap forward towards achieving a safer road network for all road users,” said Dean.
As a preferred transport partner, MaxiTRANS is here ready to assist with our customers’ new equipment needs following this most recent announcement.
MaxiTRANS bulk transport brands, which include Hamelex White, Lusty EMS, Trout River and AZMEB, are well known within the industry and respective segments in which they specialise. MaxiTRANS already has a large range of both new and pre-owned trailers already in stock and available to purchase now across its brands ready to assist with urgent infrastructure projects.
This also extends to our other market leading brands, Freighter, Maxi-CUBE and Peki, which too fit within the temporary full expensing capital purchase rules.
MaxiTRANS’ 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. 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.
“For our customers looking to invest and take full advantage of the Government’s announcement, we encourage you to contact your accountant or financial adviser to discuss how you could benefit. All while knowing you are investing in high quality Australian-made products and supporting the Australian economy,” said Dean.
Please note MaxiTRANS does not provide financial advice to its customers, MaxiTRANS suggests customers contact their own financial provider to discuss.