Instant asset write off increase to assist Aussie businesses in uncertain times

While Australian businesses are facing unchartered territory in the midst of the global coronavirus pandemic, the Federal Government has implemented new support measures that allow businesses the cash flow to invest in assets they require to succeed now and into the future.

As part of its business assistance package, the Government has increased the Instant Asset Write-Off (IAWO) from $30,000 to $150,000 for businesses with an annual turnover of less than $500 million. This incentive applies from 12 March 2020 until 30 June 2020, for assets first used or installed ready for use in this timeframe.

CAPS, Australia’s largest locally-owned supplier of air and power solutions, is well-prepared to assist businesses prior to the cut-off date. In anticipation of factory closures and supply chain delays during the progression of the COVID-19 outbreak, CAPS responded quickly and is currently stocked up on a broad range of equipment.

Stocked equipment includes Kohler industrial power generator sets up to 550 kVA, Ingersoll Rand and CAPS contact-cooled rotary screw air compressors from 5 – 160kW, Airman portable diesel compressors and generators, blowers and more. All units are stocked locally and are ready for immediate delivery and installation where applicable.

Glenn McIntyre, CAPS Executive General Manager, further explains why you might not find a better opportunity to invest;

“Not only do CAPS have current stock of quality equipment, but we also offer a competitive price as the product landed at a favourable exchange rate before the fall in the Australian dollar. Once this stock is gone, these prices won’t continue”, Glenn said. “If you consider these factors coupled with the government’s Instant Asset Write Off incentive, it makes sense to invest in the equipment you need now”.

To view the complete range of equipment in stock, visit: www.campaign.caps.com.au/invest-2020 or call 1800 800 878 to speak to your local CAPS representative. For further information and eligibility criteria for the government’s Instant Asset Write-Off incentive, visit: https://www.business.gov.au/risk-management/emergency-management/coronavirus-information-and-support-for-business/instant-asset-write-off