50% Tax Deduction on Offer for Australian Charter boats
On the 12th of March, the Morrison Government announced a stimulus package aimed at boosting the Australian economy. This package which included an investment incentive that can apply to charter boat purchases. This investment incentive applies to businesses who buy NEW charter boats over $150,000 that can be delivered and operating by June 30, 2021.
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, it does not apply to used boats.
Below is an example:
If a business bought a new boat valued at $800k and had it delivered by June 30 2021, they would get on 2021 an immediate one off depreciation claim of $400k + $60k normal depreciation (15% of the remaining $400k balance).
Further information about this investment incentive is available on the Treasury website HERE >>
and there is a fact sheet available HERE>>
There are very limited charter boats that this investment allowance can apply to due to the long lead times in the marine industry at present, Seawind like most catamaran manufacturers has full order books and in the case on some of our models, we simply cannot deliver boats within this timeframe. We have however restructured our 1160 production line to take advantage of this incredible incentive and have generated a limited number of 1160 production slots ready for Australian investors to benefit from this once in a lifetime opportunity.
Contact Australia’s charter boat experts:
As charter boat investment experts, Multihull Central can help place these new boats into established fleets in the Whitsundays and Sydney Harbour including their own fleet at Charter Boat Central on Sydney harbour.
With outbound tourists typically out numbering inbound in Australia, the local tourism market is positioned well to rebound in this current market as a low Australian dollar will cater to the local domestic tourism market in the short term and help grow inbound international tourism in the longer term if the Australia dollar remains where it is, making holidays in Australia cheaper for international tourists.