MaxiTRANS backs tax incentive plans

MaxiTRANS, the Australian trailer manufacturer behind brands including Freighter, Maxi-CUBE, Hamelex White, Lusty EMS, Trout River and AZMEB, among others, has applauded the Federal Government's latest round of targeted tax incentives, which include temporary full expensing and access to previous year losses.

The measures will allow businesses with turnover of up to $5 billion to write off the full value of any new eligible assets they purchase, while second-hand assets will also be included for businesses with a turnover of up to $50 million.

"This announcement is a positive for Australian business and the transportation industry as a whole and a great step towards recovery of the Australian economy," said Dean Jenkins, MaxiTRANS Managing Director and CEO.

"The introduction of temporary full expensing will drive transport business investment and encourage the purchase of new and safer transport equipment for the industry."

The measures now extend through to June 30, 2022.

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"This is a terrific show of support from the Government who see the value in transport companies investing in upgraded transport equipment, which includes new trucks and trailers.

"The increase in the size of eligible businesses from the previous instant asset write-off incentive, means more of our customers are now able to access the Government incentive. This, combined with the ability to carry-back tax losses from previous years, will give our larger customers more certainty for the future to move ahead with medium term plans for fleet replacement during what will be a short term effect of COVID-19."

The budget announcement also sets out the Government's $110 billion infrastructure pipeline, including $14 billion in new and accelerated infrastructure.

"In conjunction with our industry partners, MaxiTRANS has been a driving voice pushing for a safer and more efficient road network. The additional $2 billion into targeted road safety is a huge leap forward towards achieving a safer road network for all road users," said Mr Jenkins.

"As a preferred transport partner, MaxiTRANS is here ready to assist with our customers’ new equipment needs following this most recent announcement."