News: Save on business equipment now with the Instant Asset Write Off extension

The COVID-19 pandemic is having a huge impact on businesses right around Australia, so it’s important for business owners to take advantage of any government stimulus they qualify for.

At the start of the pandemic the Federal Government lifted the instant asset write-off threshold to $150,000 and extended to businesses with a turnover of up to $500 million. And plenty of people took advantage of it. This stimulus measure has now been extended to the end of 2020 so don’t miss the opportunity.

The write-off helps ease cash flow worries by bringing forward tax deductions. 

On January 1 2021, the threshold for the scheme will drop to a mere $1,000. Plus, the incentive will only be available to small businesses with an aggregated annual turnover of less than $10 million.

Make your purchase in 2020 and save

At a time like this it would be very easy just to cut all expenditure and batten down the hatches. But as we learn to live with the COVID-19 virus we can see how important it is to invest in the future of your business.

Act now rather than leave it until right near the end of the cut-off date of December 31, 2020. To be eligible to write off your new assets, they must be either installed and in-use, or purchased and ready for use, in the same year it was purchased.

The purpose of the $150,000 Instant Asset Write Off is to accelerate the speed at which businesses can make deductions for their purchases. This allows business owners to claim a deduction for that asset in the same income year as the asset was purchased. This deduction is then able to be claimed on the business’ tax return for that income year.

Included in the list of eligible items are tools, plant, and equipment so a Demmeler Modular Fixturing Solution from Leussink will be an eligible deduction for many businesses. Many leading businesses, from truck trailer manufacturers to shipbuilders and custom car restorers, have invested in a Demmeler Modular Fixturing Solution from Leussink and have enjoyed improvements in accuracy and efficiency as a result.

How the Demmeler Modular Fixturing Solution improves accuracy and efficiency

The Demmeler system, distributed by Leussink in Australia & New Zealand, is a versatile, modular jig and fixtures solution for all types of welding and fabrication work. Projects such as steel construction, sheet metal processing, robot technology, assembly and measuring equipment, laser welding, laser cutting, prototype construction, body construction, and many others can be set up easily and precisely with the Demmeler Modular Fixturing Solution.

In a few short weeks, the largest shipment of Demmeler tables to ever enter Australia will arrive at our workshop in Wollongong, NSW, direct from Demmeler headquarters in Germany. We’re bringing in such a large shipment to meet the expected demand for Demmeler tables from businesses throughout Australia.

Many of our clients are upgrading from a traditional welding bench and finding that the Demmeler Modular Fixturing Solution saves them time but also increases their accuracy and precision. Our customers enjoy up to a 50% improvement in productivity, along with an increase in accuracy and zero rework, from using the Demmeler system.

Read more about the Demmeler Modular Fixturing Solution, or talk to the Leussink team today to discuss how a Demmeler can help your business.