COVID-19: Gvt Asset Write-Off Increased to $150k

How the latest Government announcement will impact your business during COVID-19. COVID-19: Gvt Asset Write-Off Increased to $150k

Now is the best time to stock up on fuel (while it’s cheap!) and you can make the most of the new Government incentive to do so.

The Australian Government has recently increased the instant asset write-off threshold from $30k to $150k for small to medium businesses. This has also been extended to businesses with aggregated annual turnover of less than $500 million, instead of the previous limit of $50 million.

This was announced by Scott Morrison and applies from March 12th, 2020, as a scheme to provide cash flow benefits for businesses during the COVID-19 pandemic.

You might be eligible for this initiative?

If you are an eligible small to medium sized business, you can claim any business investment on tax up until the end of June 2020. It means that you can immediately deduct purchases of “assets” for your business up until the end of the financial year.

For example, if you have been thinking about getting a fuel storage tank for your property, you can now claim an immediate deduction on this if you match the Government’s business criteria.

Make the most of it now – don’t delay

With people stocking up on food and resources worldwide in preparation for the health and economic hit of COVID-19, there are ways to save money in the long term. For example stocking up on fuel now, whilst prices are seeing a drop, can ensure you are prepared for the coming weeks. You can avoid the unpredictable future of prices escalating, and access a storage solution immediately by purchasing a tank through the asset write-off.

• Take advantage of the increased Government asset write-off
• Save $$$ on fuel in the long term
• Get your fuel storage tanks sorted before the rush

Call us on 1300 FUELCO to inquire now. Our team can help discuss your fuel storage requirements and the best options.

Why buy a self bunded fuel storage tank

Why buy a self-bunded fuel storage tank

Self-bunded fuel storage tanks – Are you looking at fuel storage options for your farm, home or business

You’re looking at fuel storage options for your farm, home or business, but it’s difficult to make a decision. There are a number of factors to consider – capacity, location, environmental requirements, maintenance issues, purpose, capacity etc.

Self-bunded tanks, which are double-walled or skinned, are an increasingly popular option for a number of reasons.

Top 5 benefits of a self bunded tank:

1. Cost savings: When you buy a self-bunded tank, the savings start with the set-up. Because they incorporate a built-in containment system for ruptures and leaks, self-bunded tanks eliminate the need for specialist civil engineering or building works involved with building an external bund. Typically, buying a self-bunded tank works out at about half the cost of using a single walled tank and building a bund.
2. Flexibility: A self-bunded tank is a drop-and-go option, so not only can you use your fuel storage immediately, you can safely and easily transport your tank to another site. Smaller portable self-bunded tanks are available in sizes up to 10,000 litres, meaning when your worksite moves with seasonal changes or project demands, your fuel storage can move with it. Our fully transportable containerised tanks store up to110,000 litres of fuel, for operators with high fuel turnover and storage requirements. Again, there are cost and efficiency benefits because refuelling can take place on or near your worksite, wherever the site is.
3. Compliance: Buying a self-bunded tank that is certified to Australian Standards is the best way to ensure your fuel storage complies with environmental legislation in your area. A properly maintained bunded tank and refuelling system – including valves, pipes, pumps and hoses – is also the best protection you have against fuel leaks that can cause soil or water contamination and six-figure fines.
4. Keeping your fuel in great shape: Because self-bunded tanks are easy to maintain and to access for maintenance, it’s easy to keep your tank in great shape – and keeping your tank healthy means your fuel with stay fresh for longer. That in turn means your vehicles will run more efficiently, and your business will benefit.
5. Security – our range of self-bunded tanks comes in sizes from 1000-110,000 litres and offer unbeatable quality and the added advantage of a safe fuel limit which is 10 per cent greater than standard tanks of similar capacity – meaning your tank can go longer between refills.

Call our experts on 1300-FUELCO to find out more about our range or discuss your needs and let us build the tank that’s right for you.

Save Money & Time with our on-site fuel storage solutions

Benefits of On-site Fuel Storage Facility vs Fuel Card – Benefits 

Onsite Fuel Storage

• 1.Saves Money
  Having on-site fuel storage can save you money – especially when it’s teamed with an effective fuel management system
  Fuel card companies will usually charge a management fee even if seems small initially but rises with use
• 2. Saves Time
  Save travelling time to off-site locations in order to fill up, and refuelling detours should largely be avoided
• 3. Realtime Monitoring & Reporting
  Examine the performance of your fleet’s vehicles and drivers
  Understand your cost per mileage figures
  Discover which vehicles are performing on, above and below the expected MPG target
  Access the means to monitor and make improvements
  Predict future expenses more easily, giving you a better handle on your finances

Click here for the Home Base Tank Saving Estimator or just email us and we can send the estimator to you.

Fuelco’s new Aviation Tank Range of self bunded tanks

Fuelco’s new Aviation Tank Range of self bunded tanks made specifically for Storage and Dispensing for Aviation Fuel
(Avgas and Jet A-1).

Sizes available from 11,700 to 65,300 Litres.

Inner tanks come as either 304 stainless steel or epoxy lined carbon steel.
All fittings and pipework 304 stainless steel.

Designed, Constructed & Compliant to Australian Standards and JIG4.
(UL142 for epoxy lined approved, UL142 for stainless steel certification in progress)

Key features of our aviation tanks

• Inner tanks come as either 304 stainless steel or epoxy lined carbon steel. All fittings and pipework 304 stainless steel
• Tanks include primary and interstitial emergency vents and independent high level alarm
• Filtration to API/EI Spec for commercial & military standards
• In-feed pumping & dispensing systems available with pumps and optional equipment such as filtration and metering (with bulk air elimination)
• Floating suction | Emergency venting | Sloping floor to sump
• Water extraction pipework into sump
• Interstitial space dip and vent | Walkway along top of the tan giving access to vents, dip sticks and jiggle wire
• Quality control system integration available including fuel sampling cabinets and contaminant and water testing equipment
• Optional tank and pumping accessories include automatic tank gauging, fuel management systems, valving automation and control