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
South Morang Toyota
530 McDonalds Road South Morang VIC 3752
Select Department
-
New Vehicles -
Service -
Fleet -
Parts -
Pre-Owned Vehicles -
Finance & Insurance
New Vehicles 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 - 5:00 pm
Tuesday
7:30 am - 5:00 pm
Wednesday
7:30 am - 5:00 pm
Thursday
7:30 am - 5:00 pm
Friday
7:30 am - 5:00 pm
Saturday
Closed
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
Open online 24/7 for Click & Collect
Parts Trading Hours
Monday
8:00 am - 4:30 pm
Tuesday
8:00 am - 4:30 pm
Wednesday
8:00 am - 4:30 pm
Thursday
8:00 am - 4:30 pm
Friday
8:00 am - 4:30 pm
Saturday
Closed
Sunday
Closed
Pre-Owned Vehicles 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
Finance & Insurance 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 - 5:30 pm
Sunday
We are open for Click & Collect 24/7
Our Location
Select Department
-
New Vehicles
-
Service
-
Fleet
-
Parts
-
Pre-Owned Vehicles
-
Finance & Insurance
New Vehicles Department
New Vehicles 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 - 5:00 pm
Tuesday
7:30 am - 5:00 pm
Wednesday
7:30 am - 5:00 pm
Thursday
7:30 am - 5:00 pm
Friday
7:30 am - 5:00 pm
Saturday
Closed
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
Open online 24/7 for Click & Collect
Parts Department
Parts Trading Hours
Monday
8:00 am - 4:30 pm
Tuesday
8:00 am - 4:30 pm
Wednesday
8:00 am - 4:30 pm
Thursday
8:00 am - 4:30 pm
Friday
8:00 am - 4:30 pm
Saturday
Closed
Sunday
Closed
Pre-Owned Vehicles Department
Pre-Owned Vehicles 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
Finance & Insurance Department
Finance & Insurance 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 - 5:30 pm
Sunday
We are open for Click & Collect 24/7
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 Hybrid
- What's My Car Worth
- Fleet
- How Fleet Plan Works
- Coming Soon Mirai
- Yaris Cross
- Browse our Pre-Owned Vehicles
- Browse our Toyota Certified Pre-Owned Vehicles
- Browse our Demo Vehicles
- About Toyota Certified Pre-Owned Vehicles
- Instant Valuation Tool
- Exclusive Promotions
- National Offers
- New Vehicle Offers
- Finance Options
- Toyota Access
- Toyota Personalised Rate Page
- Personal Finance Solutions
- Business Finance Solutions
- Full-Service Lease
- Used Car Finance
- Lifestyle Check-Up
- Toyota Insurance
- Toyota Genuine Service
- Book a Service Online
- Safety & Toyota Warranty Advantage
- Airbag Recall
- Customer Care Plans
- Toyota Genuine Parts
- Genuine Accessories
- Apple CarPlay® and Android Auto™
- Toyota Safety Sense
- Contact Us
- About Us
- Career
- Complaint Handling Process
