While Australian businesses are still facing the challenges of the global coronavirus pandemic, the Federal Government has announced an extension to the Tax Break – Instant Asset Write Off Scheme during the handing down of the Federal budget on October 6^th 2020.This extension continues the support that allow businesses the cash flow to invest in assets they require to succeed now and into the future.

Eligible businesses with an aggregated turnover of less than $5 billion can deduct the full cost of new eligible depreciating assets that are first held, and first used or installed ready for use for a taxable purpose, between 7:30pm AEDT on 6 October 2020 (the 2020 Budget time) and 30 June 2022.

CAPS, Australia’s largest locally-owned supplier of air and power solutions, is well-prepared to assist businesses prior to the cut-off date. In anticipation of factory closures and supply chain delays during the progression of the COVID-19 outbreak, CAPS responded quickly and is currently stocked up on a broad range of equipment.

Stocked equipment includes Kohler industrial power generator sets up to 550 kVA, Ingersoll Rand and CAPS contact-cooled rotary screw air compressors from 5 – 160kW, AIRMAN portable diesel compressors and generators, refrigerated dryers and more. All units are stocked locally and are ready for immediate delivery and installation where applicable.

Glenn McIntyre, CAPS Executive General Manager, further explains why you might not find a better opportunity to invest;

“Not only do CAPS have current stock of quality equipment, but we also offer a competitive price as the product landed at a favourable exchange rate before the fall in the Australian dollar. Once this stock is gone, these prices won’t continue”, Glenn said. “If you consider these factors coupled with the government’s Instant Asset Write Off incentive, it makes sense to invest in the equipment you need now”.

To view the complete range of equipment in stock, visit search the product section or call 1800 800 878 to speak to your local CAPS representative.

For further information and eligibility criteria for the government’s Instant Asset Write-Off incentive, visit the ATO website.