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Virtually All Australian Businesses Can Now Instantly Claim 100% of Costs on Commercial Refrigeration Purchases

Australian businesses with a domestic turnover of less than AU$5 billion are now eligible to instantly deduct the cost of commercial refrigeration under new Instant Asset Write-Off rules.

To support economic recovery, the Australian government has thrown open the gates of this temporary tax break, which was previously reserved for much smaller businesses, and extended its deadline from December 2020 to June 2022.

This means the vast majority of Australian businesses can now instantly claim back 100% of capital investment costs (up to $150,000 per asset) on commercial refrigeration purchases.

The tax break applies to new and second-hand purchases made up to June 2022, and includes assets financed under hire purchase agreements, like our Own Me plan.

Here’s how you can take advantage:

  1. Talk to a SKOPE stockist in your area about the SKOPE, Irinox, or ITV Ice Maker product that meets your needs.
  2. Decide if you want to pay in cash or via an Own Me agreement with SKOPE Funding. If you opt for SKOPE Funding, take the quote from your stockist and apply for funding online. SKOPE Funding will then be in touch to complete the credit application and purchase.
  3. After delivery and installation of the assets, use your tax invoice or Own Me agreement to claim 100% of the Asset value (up to $150,000 per asset).

Don’t forget for customers located in NSW and Victoria you may also be eligible to claim energy rebates on our SKOPE Refrigeration on top of this.

We recommend you seek advice from your accountant or professional tax advisor before purchase or financing.

See also: Using the New Zealand COVID-19 Business Continuity Package Low Value Asset Write-Off for Refrigeration