Asset savings on TRT's free tax calculator

January 2022
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TRT Australia (TRT (Aust) Pty Ltd) has released an updated, free calculator that determines the estimate tax savings available to eligible businesses under the Australian Federal Government’s Business Temporary Full Expensing (FEDA), COVID 19 stimulus incentives. 

Neil Webb, General Manager for TRT Australia explains why TRT have made the investment in a new online calculator. “As a manufacturer of innovative, high-quality assets, TRT wanted to create a free, easy to use tool, to help business in general. Our previous stimulus calculator was very popular because it was so simple, so we knew this would be a great new tool for customers.”

Webb continues, “While TRT’s tax savings calculator does not replace advice from an accountant, we wanted to make it possible for a business to instantly see the potential savings when purchasing new equipment, whether from us or any other supplier. We like to lead innovation, and we see this as an opportunity to lead from the front.”

TRT have pre-programmed the calculator to show the savings associated with the purchase of a TIDD PC28 Pick and Carry Crane, a crane manufactured by TRT. This calculator has a simple three step process. Users only need to know what asset they want to purchase, and basic information including the asset cost, company tax rate and the life of the asset to estimate the tax savings.

Webb explains, “With increasing demand for equipment and lifting solutions, our customers tell us that investment cost and delivery times frames are top of mind considerations when making purchase decisions.”

“For example; as we manufacture the TIDD Crane, we have been able to manage consistent delivery times, even with the supply chain issues across all sectors.  As a result, TIDD Crane maintains a four-month delivery schedule, and by using the calculator, it also has tax savings of over $120,000. So, for us its about providing information that can help keep our industry and Australia moving”.

FEDA tax incentive for new asset purchases is all operations with a turnover under 5 billion dollars annually, used purchases and upgrades to assets are also eligible to operations with an income under 50 million dollars annually. This is explained in simple language on the calculator website as well as how “Loss Carry Back Tax Offset” can also improve business cash flow.”

Webb adds, “We have also added a number of clickable examples of TRT manufactured products including heavy haulage floats and crane trailers, and the OEM cranes brands we represent, including Grove All Terrain Cranes and KOBELCO Crawler Cranes, with pricing guides to help make the calculator even more simple to use.”

For more information on FEDA click here.

Form More information on Loss Carry Back Tax Offset click here. 

To access the calculator click here.