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30% Govt Investment Allowance – Great for Brisbane Truck Show!
24/02/2009

The recent announcement of the Federal Government’s Economic Stimulus package is an unexpected bonus for the truck and machinery industry.
It is also excellent timing for the exhibitors at the forthcoming Queensland Truck and Machinery Show to be held in Brisbane on the 14th - 17th May. Why, because you only have until 30 June 2009 to qualify for the 30% tax deduction on offer!
Basically, the Federal Government stimulus package is an investment allowance that provides a 30% tax deduction for the purchase of capital equipment or recapitalisation expenditure, provided it is ordered before the end of June 2009.
Commenting on the impact of this news, Brett Wright, CEO of the Commercial Vehicle Industry Association of Queensland, the industry peak body, stated;
“The impact of the June cut-off date means that astute business leaders can visit the Queensland Truck and Machinery Show in May and view the very latest in safe, clean, fuel efficient vehicles and equipment before making such a critical purchasing decision. With the industry fully behind the show and all the big truck and equipment manufacturers locked in, ready and raring to go, there is real excitement that the announcement of this stimulus package couldn’t have come at a better time”.
To be eligible for this investment allowance by way of a 30% tax deduction, the asset needs to be ordered before the end of June 2009 and in operation by June 2010, so equipment, fleet operators and owner operators alike who are in the position to buy within the coming months can reap the benefits.
Brett added; “With the additional incentive of interest rates being at the lowest level in recent history and the Queensland Truck and Machinery show delivering the largest selection of vehicles and equipment available in one location, anywhere in the Southern Hemisphere, this is an ideal combination of timing, range of choice and financial opportunity that may just turn out to be the best investment in 2009!”