Instant Asset Write-off
Now is the time to upgrade your commercial fridges and freezers.
Did you know the Australian Government is now allowing purchases of capital assets such as commercial refrigeration equipment valued $1,500 or more to be instantly depreciated (or ‘written off’ for tax purposes) by small and medium-sized businesses?
It’s true, and if you haven’t yet taken advantage, now really is the time to think seriously about doing so. Whether you’re considering investing in additional commercial refrigeration equipment, or the time is coming to replace what you already have, the Instant Asset Write-Off scheme is the perfect opportunity. You’ll get an immediate tax deduction for the full value of equipment, whilst significantly upgrading the performance and efficiency of your kitchen’s all-important fridges and/or freezers.
For example, if you’re currently using ageing refrigeration systems, replacing them with the world-class energy efficiencies of a True Refrigeration solution is one of the smartest investments you can make in your kitchen. Beyond the very real tax relief you’ll enjoy in the 2021/22 financial year, your new True Refrigeration system will continue to save you time, energy and money for years to come through increased performance and reduced running costs.
What’s more, all True Refrigeration equipment sold and operated in Australia and New Zealand is now covered by an unbeatable 5 Years Parts & Labour Warranty.
What equipment is eligible?
The great news is almost every model of commercial fridges and freezers from True Refrigeration is currently eligible for the Instant Asset Write-Off. (The maximum value per asset was increased to $150,000 in October 2020, as part of the Australian Government’s ongoing Covid-19 business stimulus measures.) In fact, the only ATO requirements are that your new equipment is:
- First held by you at or after 7.30pm AEDT on 6 October 2020
- First used or installed ready for use by you for a taxable business purpose between 7.30pm AEDT on 6 October 2020 and 30 June 2022.
What equipment can you choose?
True Refrigeration has been pioneering premium commercial refrigeration solutions around the world for 75 years. Modular and easily customisable to suit any commercial kitchen or venue, our energy-efficient systems include everything from food preparation tables and pizza preparation counters to undercounter fridges and commercial bar and display fridges.
For more information on the full True Refrigeration range, you’re on our new website specifically for Australia. Please get in touch if you have a requirement or any questions about our refrigeration solutions.
Like to know more about the Instant Asset Write-Off scheme? Please visit the ATO website or speak with your Accountant.
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