In case you’re not aware, as part of the 2020-21 Budget the Federal Government announced a further extension and updated rules for the Instant Asset Write-Off Scheme to assist businesses with the purchase of assets.
In case you’re not aware, as part of the 2020-21 Budget the Federal Government announced a further extension and updated rules for the Instant Asset Write-Off Scheme to assist businesses with the purchase of assets.
HOW DO THE NEW INSTANT ASSET WRITE-OFF RULES APPLY?
Business owners may be eligible for an immediate tax write-off of a new or second-hand vehicle up to any value (previously $150,000 maximum) if the asset is ordered, acquired, installed and ready for use between 6 October 2020 and 30 June 2022.
Australian taxation legislation currently states that the depreciation limit for a motor vehicle defined as a car* remains at $59,136.
* The depreciation car limit applies to a vehicle classified as a ‘car’ (a vehicle designed to carry a load of less than 1 tonne and fewer than 9 passengers) in the tax legislation.
This means that cars below the car depreciation limit; like Yaris, Corolla, Camry, C-HR & RAV4 may be eligible for a 100% Instant Asset Write-Off in the income year it is first ready for use if delivered by 30 June, 2022. Vehicles (with over 1 tonne payload) such as our HiLux 4×4 Extra-Cab Cab-Chassis for example, may be eligible for a 100% write-off.
Please note that the above is for illustrative purposes only.
Business owners may be eligible for an immediate tax write-off of a new or second-hand vehicle up to any value (previously $150,000 maximum) if the asset is ordered, acquired, installed and ready for use between 6 October 2020 and 30 June 2022.
Australian taxation legislation currently states that the depreciation limit for a motor vehicle defined as a car* remains at $59,136.
* The depreciation car limit applies to a vehicle classified as a ‘car’ (a vehicle designed to carry a load of less than 1 tonne and fewer than 9 passengers) in the tax legislation.
This means that cars below the car depreciation limit; like Yaris, Corolla, Camry, C-HR & RAV4 may be eligible for a 100% Instant Asset Write-Off in the income year it is first ready for use if delivered by 30 June, 2022. Vehicles (with over 1 tonne payload) such as our HiLux 4×4 Extra-Cab Cab-Chassis for example, may be eligible for a 100% write-off.
Please note that the above is for illustrative purposes only.
Business owners may be eligible for an immediate tax write-off of a new or second-hand vehicle up to any value (previously $150,000 maximum) if the asset is ordered, acquired, installed and ready for use between 6 October 2020 and 30 June 2022.
Australian taxation legislation currently states that the depreciation limit for a motor vehicle defined as a car* remains at $59,136.
* The depreciation car limit applies to a vehicle classified as a ‘car’ (a vehicle designed to carry a load of less than 1 tonne and fewer than 9 passengers) in the tax legislation.
This means that cars below the car depreciation limit; like Yaris, Corolla, Camry, C-HR & RAV4 may be eligible for a 100% Instant Asset Write-Off in the income year it is first ready for use if delivered by 30 June, 2022. Vehicles (with over 1 tonne payload) such as our HiLux 4×4 Extra-Cab Cab-Chassis for example, may be eligible for a 100% write-off.
Please note that the above is for illustrative purposes only.
HOW CAN THE ‘INSTANT ASSET WRITE-OFF’ SCHEME APPLY TO YOUR BUSINESS?
From 6 October 2020 to 30 June 2022, for businesses with an aggregated annual turnover of less than $50 million, the Instant Asset Write-Off scheme continues to extend to eligible second-hand assets too.
The entire Toyota range is eligible for a form of Instant Asset Write-Off. Ask your accountant about how this benefit can be applied for your business.
It is important to note that this communication should not be used as tax advice. Please first speak with your accountant to see how this stimulus package applies to your business.
READ THE FULL AUSTRALIAN GOVERNMENT ANNOUNCEMENT HERE.
From 6 October 2020 to 30 June 2022, for businesses with an aggregated annual turnover of less than $50 million, the Instant Asset Write-Off scheme continues to extend to eligible second-hand assets too.
The entire Toyota range is eligible for a form of Instant Asset Write-Off. Ask your accountant about how this benefit can be applied for your business.
It is important to note that this communication should not be used as tax advice. Please first speak with your accountant to see how this stimulus package applies to your business.
READ THE FULL AUSTRALIAN GOVERNMENT ANNOUNCEMENT HERE.
HOW CAN THE ‘INSTANT ASSET WRITE-OFF’ SCHEME APPLY TO YOUR BUSINESS?
From 6 October 2020 to 30 June 2022, for businesses with an aggregated annual turnover of less than $50 million, the Instant Asset Write-Off scheme continues to extend to eligible second-hand assets too.
The entire Toyota range is eligible for a form of Instant Asset Write-Off. Ask your accountant about how this benefit can be applied for your business.
It is important to note that this communication should not be used as tax advice. Please first speak with your accountant to see how this stimulus package applies to your business.
READ THE FULL AUSTRALIAN GOVERNMENT ANNOUNCEMENT HERE.
Our Location
Preston Toyota
687 High Street Preston VIC 3072
Select Department
-
New Cars -
Pre-Owned Cars -
Service -
Body & Paint -
Finance -
Fleet
New Cars Trading Hours
Monday
8:30 am - 5:30 pm
Tuesday
8:30 am - 5:30 pm
Wednesday
8:30 am - 5:30 pm
Thursday
8:30 am - 5:30 pm
Friday
8:30 am - 5:30 pm
Saturday
8:30 am - 5:00 pm
Sunday
Open online 24/7 for Click & Collect
Pre-Owned Cars Trading Hours
Monday
8:30 am - 5:30 pm
Tuesday
8:30 am - 5:30 pm
Wednesday
8:30 am - 5:30 pm
Thursday
8:30 am - 5:30 pm
Friday
8:30 am - 5:30 pm
Saturday
8:30 am - 5:00 pm
Sunday
Open online 24/7 for Click & Collect
Service Trading Hours
Monday
7:30 am - 5:30 pm
Tuesday
7:30 am - 5:30 pm
Wednesday
7:30 am - 5:30 pm
Thursday
7:30 am - 5:30 pm
Friday
7:30 am - 5:30 pm
Saturday
Closed
Sunday
Closed
Body & Paint Trading Hours
Monday
7:30 am - 4:30 pm
Tuesday
7:30 am - 4:30 pm
Wednesday
7:30 am - 4:30 pm
Thursday
7:30 am - 4:30 pm
Friday
7:30 am - 4:30 pm
Saturday
Closed
Sunday
Closed
Finance Trading Hours
Monday
8:30 am - 5:30 pm
Tuesday
8:30 am - 5:30 pm
Wednesday
8:30 am - 5:30 pm
Thursday
8:30 am - 5:30 am
Friday
8:30 am - 5:30 pm
Saturday
8:30 am - 5:30 pm
Sunday
Closed
Fleet Trading Hours
Monday
8:30 am - 5:30 pm
Tuesday
8:30 am - 5:30 pm
Wednesday
8:30 am - 5:30 pm
Thursday
8:30 am - 5:30 pm
Friday
8:30 am - 5:30 pm
Saturday
8:30 am - 5:00 pm
Sunday
Closed
Our Location
Select Department
-
New Cars
-
Pre-Owned Cars
-
Service
-
Body & Paint
-
Finance
-
Fleet
New Cars Department
New Cars Trading Hours
Monday
8:30 am - 5:30 pm
Tuesday
8:30 am - 5:30 pm
Wednesday
8:30 am - 5:30 pm
Thursday
8:30 am - 5:30 pm
Friday
8:30 am - 5:30 pm
Saturday
8:30 am - 5:00 pm
Sunday
Open online 24/7 for Click & Collect
Pre-Owned Cars Department
Pre-Owned Cars Trading Hours
Monday
8:30 am - 5:30 pm
Tuesday
8:30 am - 5:30 pm
Wednesday
8:30 am - 5:30 pm
Thursday
8:30 am - 5:30 pm
Friday
8:30 am - 5:30 pm
Saturday
8:30 am - 5:00 pm
Sunday
Open online 24/7 for Click & Collect
Service Department
Service Trading Hours
Monday
7:30 am - 5:30 pm
Tuesday
7:30 am - 5:30 pm
Wednesday
7:30 am - 5:30 pm
Thursday
7:30 am - 5:30 pm
Friday
7:30 am - 5:30 pm
Saturday
Closed
Sunday
Closed
Body & Paint Department
Body & Paint Trading Hours
Monday
7:30 am - 4:30 pm
Tuesday
7:30 am - 4:30 pm
Wednesday
7:30 am - 4:30 pm
Thursday
7:30 am - 4:30 pm
Friday
7:30 am - 4:30 pm
Saturday
Closed
Sunday
Closed
Finance Department
Finance Trading Hours
Monday
8:30 am - 5:30 pm
Tuesday
8:30 am - 5:30 pm
Wednesday
8:30 am - 5:30 pm
Thursday
8:30 am - 5:30 am
Friday
8:30 am - 5:30 pm
Saturday
8:30 am - 5:30 pm
Sunday
Closed
Fleet Department
Fleet Trading Hours
Monday
8:30 am - 5:30 pm
Tuesday
8:30 am - 5:30 pm
Wednesday
8:30 am - 5:30 pm
Thursday
8:30 am - 5:30 pm
Friday
8:30 am - 5:30 pm
Saturday
8:30 am - 5:00 pm
Sunday
Closed
Find Out More
Quick Links
- Home
- Prado
- bZ4X
- Camry
- LC300
- C-HR
- Yaris
- Yaris Cross
- Corolla Hatch
- Corolla Sedan
- Corolla Cross
- Browse New Vehicles
- Toyota Hybrids
- What's My Car Worth
- How Fleet Plans Work
- Yaris Cross
- Browse our Pre-Owned Vehicles
- Browse our Toyota Certified Pre-Owned Vehicles
- Browse our Demo Cars
- About Toyota Certified Pre-Owned Vehicles
- Instant Valuation Tool
- Exclusive Promotions
- National Offers
- New Vehicle Offers
- Finance Options
- Toyota Access
- Personal Finance Solutions
- Business Finance Solutions
- Full-Service Lease
- Used Car Finance
- Lifestyle Check-Up
- Toyota Car Insurance
- KINTO Rent
- Toyota Personalised Rate Page
- Toyota Genuine Service
- Book a Service Online
- Safety & Warranty Advantage
- Airbag Recall
- Customer Care Plans
- Body and Paint
- Toyota Genuine Parts
- Genuine Accessories
- Apple CarPlay® and Android Auto™
- Toyota Safety Sense
- Contact Us
- About Us
- Careers
- Complaint Handling Process
- Fleet
