Apart from a discounted price, offers can range between extra free features, or free ownership costs such as extended warranties, servicing, and registration. Some of these incentives can make a huge difference to the sale price for both private and business buyers.

Tax Deduction

If you are a small business operator, buying a truck or utility vehicle during the EOFY period means an instant asset tax write-off. While you should keep in mind that the Australia government has introduced a new asset limit from $30,000 to $150,000 and also increased the pool of eligible businesses as part of the Coronavirus stimulus package in March. Moreover, the federal government has now extended the deadline for making claims from 1st July to 31st December.

Any car or any type of vehicle, new or used, as long as the cost is under the $150k limit, is eligible for the instant asset write-off. Since the $150,000 write-off will be in place until 31st December, businesses now have an extra six months to process their asset claims. The instant asset write-off scheme allows businesses to deduct the value of an asset in the year of purchase immediately, rather than claiming deductions over several years.