In the latest budget Joe Hockey increased the immediate tax deduction for every asset from $1,000 to $20,000, for eligible businesses with an annual turnover of under $2 million.
Which means small businesses can apply the $20,000 rule to a many individual items as they like coffee machines, tools but best of all they can apply the rule to new and used cars.
The scheme started on Budget Night 2015 (Tuesday, 12th May) and will run up until 30 June 2017, assuming the changes pass through parliament.
CarShowroom.com.au has come up with a list of new cars that can be bought for under $20,000.
Passenger Cars Under $20k
Holden Cruze
Nissan Pulsar
Fiat 500
Fiat Panda
Fiat Punto
Ford Fiesta
Holden Barina
Holden Barina Spark
Honda Jazz
Honda City
Hyundai Accent
Hyundai i20
Kia Cerato
Kia Rio
Mazda2
Mitsubishi Lancer
Mitsubishi Mirage
Nissan Micra
Renault Clio
Suzuki Celerio
Suzuki Swift
Toyota Corolla
Toyota Yaris
Volkswagen Polo
Peugeot 208
Chery J11
Chery J3
Smart fortwo
Mazda CX3
Skoda Rapid
Skoda Fabia
Commercial Cars Under $20k
Toyota Hilux (workmate)
ZX Auto
Mahindra Genio
Mahindra PIK-UP
Suzuki APV
Great Wall v240
If you don’t want a new car you could always look at buying a used car here are all of the used cars under $20k on TradingPost.com.au
