MaxiTrans lauds stimulus package


Trailer manufacturer offers support following economic package announcement

MaxiTrans lauds stimulus package
MaxiTrans is ramping up trailer production to enable customers to take advantage of the stimulus bonus.

 

MaxiTrans has backed the Government’s stimulus package announcement in address to the economic impacts of the COVID-19 outbreak. The package, which was announced on March 12, is intended to provide confidence, on-going employment and business continuity.

Dean Jenkins, MaxiTrans manager director and CEO, says the stimulus package is a positive for Australian business and the transportation industry as a whole.

"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 per cent 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 this year.

MaxiTrans says it already has a large range of both new and pre-owned trailers already in stock and has already moved forward with plans to produce more units so that it is ready for customers by the end of the coming financial year to deliver this stimulus bonus.

The company says, for customer specific built 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 says.

"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 too fall within the write-off and depreciation rules," Jenkins says.

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