HVIA AND BAUER LAUNCH MAJOR STIMULUS PROMOTION CAMPAIGN


New campaign aims to promote industry uptake of federal government’s generous investment incentives.

HVIA AND BAUER LAUNCH MAJOR STIMULUS PROMOTION CAMPAIGN
There's never been a better time for a new set of driving wheels, it seems.

The Coalition government’s stimulus measures mean there has never been a better time to buy a truck or trailer, according to a joint campaign launched today by Heavy Vehicle Industry Australia (HVIA) and Bauer Media Group.

"Better still – 50 trucks and trailers," says HVIA chief executive Todd Hacking.

"That is what is going to secure the jobs of tens of thousands of employees in the heavy vehicle industry, whilst at the same time improving safety, productivity and environmental outcomes."

To promote this message HVIA has partnered with Bauer Media Group – publisher of Australia’s leading transport and machinery media brands – on a campaign to provide the heavy vehicle industry with simplified information about the government’s stimulus measures – the Instant Asset Write-off (IAWO) and the Backing Business Investment (BBI) programs. 

The six-month campaign will include extensive print and digital advertising and informative editorial content across Bauer Media Group print and digital platforms aimed at promoting take-up of the initiative. Visit the campaign website: www.truckshow.com.au/stimulus.

Hacking says the campaign is designed to support Australian jobs and Australian manufacturing by driving a conversation between road transport operators and their suppliers of trucks, trailers and equipment.

"Our campaign web page includes the details of the incentives in an easy to follow format and links to answer most questions," he adds.

"Then, get in touch with your truck and trailer dealers and your tax advisor to ensure you can get the most out of these stimulus measures as they won’t be around forever."

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Prior to COVID-19 HVIA had called for stimulus through a bonus depreciation investment allowance. 

"The government responded with the very generous IAWO and BBI initiatives," Hacking says.

"Throughout the COVID-19 pandemic we have continued to provide advice and feedback from industry to the Morrison government on a range of policy initiatives, including extending the deadline of the IAWO.

"This campaign included joint letters to the treasurer, deputy prime minister and the assistant minister for transport as well as briefings with treasury and transport officials. The HVIA board also met with minister Buchholz to provide direct feedback.

"The announcement this week of an extension to the IAWO to 31 December 2020 is a prime example of how the government has responded and supported our industry."

HVIA is encouraging operators to take advantage of the opportunity.

"If you need help searching the options, there is also an amazing marketplace of equipment available on TradeTrucks.com.au," Hacking says.

"We know business finance has tightened, so if you are looking for advice and guidance from someone that really knows our industry, we are very proud to recommend Morris Finance, who are supporting this campaign."

INSTANT ASSET WRITE-OFF

The Instant Asset Write Off has been increased from $30,000 to $150,000, with access expanded to include all businesses with a turnover of less than $500 million.

The initiative provides 100 per cent depreciation on assets purchased with a value of up to $150,000 – either new or second-hand. Multiple assets can be purchased and written off at the accelerated rate, so long as they are delivered by December 31, 2020.

BETTER BUSINESS INVESTMENT

The Better Business Investment incentive is available to businesses with aggregated turnover of less than $500 million for the 2019-20 and 2020-21 income years, to deduct the cost of depreciating assets at an accelerated rate.

For capital purchases delivered by June 30, 2021, a bonus 50 per cent depreciation can be written-off immediately. There is no upper threshold. This means up to 60-65 per cent of the assets can be written-off immediately.

 

  • For more information visit www.truckshow.com.au/stimulus
  • To search for trucks, trailers, parts and accessories for sale click here

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