It’s by no means guaranteed, but the Federal Budget proposes a $5000 tax write off in the 2012/13 financial-year for businesses with annual turnovers under $2 million who purchase motor vehicles.
The Federal Treasurer, Wayne Swan says,
“It will mean a tradesman, on a marginal tax rate, will receive a tax break of $1275 when buying a new $33,960 ute. This would be a very important measure, which will help tradies in terms of their cash flow. Small business is very much to the forefront of our thoughts because not everyone is going to be in the fast lane of the economy.”
While Wayne Swan might think $1275 is a major windfall for small business, I can only assume he’s never run a small business.
Dr. Koljia Rebstock, Managing Director Commercial Vehicles, Mercedes-Benz Australia/Pacific Pty Ltd has a better idea when he says
“Let’s stop swanning around, we are offering $5000 cash back on selected EU4 Vito vans that are purchased and delivered before June 30, 2011. We support this initiative to allow small businesses to immediately write off $5000 of a vehicle purchase, but we say small business needs this help now, not after 1st July 2012. We say bugger the budget – let’s make it simple without complex formulas, buy an EU4 Vito and pocket the cash now!”
The Mercedes-Benz Vito model range starts at $37,990.