Stimulus Package Investment Incentive for Charter Boats
Sailing in the Whitsundays is a distinct possibility as the Australian Government has announced in its Stimulus Package, an opportunity for a tax deduction of 50% of the cost of the Charter Boat.
This is an investment incentive that applies to new commercial charter boats over $150,000 purchased by a business and delivered and operating before June, 30, 2021.
Queensland Yacht Charter’s member of Dream Yacht Charter, as a well-established Charter business in the Whitsundays and the leading Charter Company Worldwide has the expertise and experience to assist you to take advantage of this offer to place a vessel in our Charter fleet.
Dream Yacht Charter have taken the conscious decision to source our fleet from a wide range of world-class manufacturers, and we pride ourselves on being able to offer 8 different brands and more than 50 Monohull and Catamaran models. Part of the joy of Dream Yacht Charter Ownership is having the opportunity to experience a wide variety of vessels, in an unmatched variety of locations.
Bareboat Charter Sailing in the Whitsundays offers 74 impressive world heritage Islands to explore, as an owner with Dream Yacht Charter you can expand your horizons with the many benefits of Charter Ownership.
- Sail for up to 12 weeks per year
- Choose from more than 50 destinations worldwide
- Choose from the widest range of monohulls and catamarans 31 – 62 ft
- Varied purchase options offering top guaranteed incomes / lowest down-payments
- Personalised attentive service on properly maintained yachts
- Dedicated Owner Relations team and online booking system
The incentive includes a 50% instant tax deduction of the charter boat purchase in the first tax year, with existing depreciation applying to the balance of the boat’s cost after that. This is available to businesses with aggregated turnover below $500 million and only applies to NEW charter boats, not used.
For your information: If a business bought a new Catamaran or Monohull for $795,000.00 AUD from any of our 8 Brands and had it delivered by June 30, 2021 they would get in 2021 an immediate one off depreciation claim of $395,000.00 AUD + $59,250.00 AUD normal depreciation (15% of the remaining $395,000.00 AUD balance).
If you have been mulling over the idea of Charter Boat Ownership or purchasing a new boat, this incentive presents an extremely rare opportunity to help new charter boat investors and businesses.
Below is an overview of what is now available from March 12th 2020 via the Government Economic Stimulus Package.
$150,000 Instant Asset Write Off
1. Any eligible asset (vehicles, machinery etc) with a purchase price of $150,000 or less (excluding GST) acquired from March 12th to June 30th 2020
2. Asset can be NEW or USED (including Private Sales)
3. The $150,000 limit is available for each individual asset and therefore multiple assets (totalling more than $150,000) can be claimed under this arrangement
4. There is NO LIMIT to the number of assets acquired under this initiative
5. Assets can be purchased outright or financed on Chattel Mortgage or CHP (Finance Lease will not work for this initiative)
6. FAST TRACK (No Financials) Finance is available on most assets across a broad range of Financiers
7. This initiative is ONLY available until June 30 2020 and as such is a very small window of opportunity being less than 4 months
50% Instant Depreciation Write Off (on assets over $150,000)
1. Any eligible asset (vehicles, machinery etc) with a purchase price GREATER THAN $150,000 (excluding GST) acquired from March 12th to June 30th 2021
2. Assets MUST be NEW (NOT USED)
3. There is NO LIMIT to the number of assets acquired under this initiative
4. Assets can be purchased outright or financed on Chattel Mortgage or CHP (Finance Lease will not work for this initiative)
5. FAST TRACK (Replacement Policy) Finance is available on many of these larger assets across a broad range of Financiers
6. This initiative is available for 15 months (until June 30 2021)
7. This extended initiative will also be applicable to assets of $150,000 or less for an extra year once the $150,000 Instant Asset Write Off has expired on June 30 2020.
If you would like to know more, the Government Fact sheet link below provides an excellent explanation with many clear examples
Do not hesitate to contact us for further information.
Call: 0457 036 756 – Email: email@example.com