“Now could be as better time as ever to purchase a Cat power system, utilising one of the federal government’s schemes,” says Jason Martin, Segment Manager Electric Power Retail and Used Equipment at Energy Power Systems Australia.
The Australian government has introduced a number of stimulus measures to help businesses address the significant economic consequences of the Coronavirus, and these initiatives will assist many businesses to make capital purchases now.
The Instant Asset Write-Off (IAWO) threshold has been increased from $30,000 to $150,000 and will apply to the purchase of Cat generators and engines. Those looking to buy must do so by December 31, 2020.
In addition to the IAWO, the government’s Backing Business Investment (BBI) scheme will apply to Cat generators and engines with prices in excess of $150,000. The BBI is a 15-month investment scheme that accelerates depreciation deductions: 50% of the cost of an eligible asset on installation, with existing depreciation rules applying to the balance.
Eligible BBI assets include new Cat gensets, or Cat marine or industrial engines.
“Your Cat power system must be first used or installed by 30 June 2021 to obtain this benefit,” explains Jason.
“You can also have your whole generator purchase financed through Cat Financial,” he adds.
To take advantage of the government’s latest stimulus package, call Energy Power Systems Australia, Caterpillar’s authorised supplier of Cat power systems in Australia, PNG and the Solomon Islands.
CALL NOW on 1800 800 441 or visit the Energy Power Systems website at: energypower.com.au