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McHALE PLANT SALES MAKE CASE FOR ACCELERATED CAPITAL ALLOWANCES INITIATIVE

 ACA Initiative

 
Komatsu, Metso and Merlo construction plant distributors McHale Plant Sales has set the ball rolling in relation to the topic of Accelerated Capital Allowances with the proposal that Government would consider reducing the period over which the cost of plant and machinery can be written off from the present 8 years to a new, shorter period of 2 years.
 
Typical of the machinery to which the proposed adjustment would apply is that used in construction, civil works and utilities repairs and renewals sectors – machinery such as heavy, medium and mini excavators; dozers; bucket loaders; dump trucks; rock crushers and aggregate screening equipment; and ancillary items/attachments relating thereto.
 
In the current issue of their in-house magazine, which circulates widely within the industry, McHale Plant Sales Finance Director, Liam Foley points to a number of reasons why Government should consider such a move at the present time.
 
Noting that a tax arrangement similar to the one proposed is already in operation in the United States, in the UK and in other countries, he underlines the many advantages that would accrue to Government and industry if such a change were to be brought into force here.
 
According to Foley, the expected benefits that would follow the introduction of such a scheme are many. As examples, he cites the following as areas in which the greatest impact would be felt: One, in generating extra employment, particularly within the industry itself; two, in driving fleet modernisation with all of the positive benefits that it would bring in terms of efficiency and safety; three, in enhancing the environment thanks to the improved environmental features of modern machines and, four, in delivering significant safety benefits by creating better workplace conditions for those who operate and work within the vicinity of such machines.
 
‘By instituting the change now proposed, Government would provide an important stimulus to an industry that has such a central role in delivering the employment-generating projects and initiatives and the infrastructural improvements through which Government hopes to drive economic prosperity and jobs going forward’ Foley said.
 
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