Limitless potential with new asset write-off
SYDNEY, Australia - October 8, 2020
Take advantage of the Federal Government's BIG boost for business in the recent budget by purchasing printing equipment from GJS and immediately writing-off the full value, without any limits on the value of individual purchases.
This incredible, but temporary change to the instant asset write off is available to businesses with an aggregated annual turnover of less than $5 billion. This means 99% of Australian businesses will have access to the scheme, and only the largest corporates will be excluded.
Under this scheme, businesses will be able to claim the full value of all new printing equipment assets, of any value, which are used or installed before June 30, 2022. Essentially the scheme allows you to bring forward spending on new assets by allowing you to claim the full tax deduction upfront, and thereby reducing the amount of tax you might have to pay.
Businesses will also be able to claim full deductions for the cost of improvements made to existing depreciable assets.
The increase means that all new printing equipment purchased from GJS is now eligible for the instant asset write-off, such as the Epson F2160, F3000 and Brother GTX direct-to-garment printers, or the Roland TrueVIS VG2 series of printer/cutters.
If you want to get into UV printing you can purchase a new VersaUV LEF2-200 UV printer, or the awesome Epson SureColor F9360 dye sublimation printer or its high-production behemoth big brother the Epson SureColour F10060 76-inch dye sublimation printer.
Small and medium-sized businesses with a turnover of less than $50 million can also deduct the full cost of used and demo printing equipment.
This new scheme is a temporary measure and will be in effect until June 30, 2022.
DISCLAIMER: This article represents general information only. Before making any financial or investment decisions, we recommend you consult a financial planner to take into account your personal financial situation and individual needs.
GJS is Australia’s premier provider of solutions and services for the textile, promotional products, custom photo gift, sign and display industries. With over 41 years’ experience, GJS supplies everything needed to start and operate a successful printing business including equipment, consumables, training and support. Headquartered in Revesby, NSW, and with additional teams located in Victoria and Queensland, GJS serves customers throughout Australia, New Zealand, and the Pacific Islands. For more information visit: gjs.co. GJS and the GJS logo are trademarks or registered trademarks of GJS. Other names are trademarks of their respective owners.