Small business asset write-off

Small business owners $20,000 asset write-off to stimulate investment and growth.

Instant write-off

New legislation passed enables small businesses (revenue less than $2M) to claim an immediate tax deduction for all assets purchased that cost less than $20,000.

Additionally, assets currently being depreciated in a small business pool will qualify for an immediate deduction where that pool balance drops below $20,000.  This means that small businesses will get a tax fuelled cash flow boost when investing in new assets.  To see how this works, have a look at Sam’s example.

When does the new measure start?

The new rules applies from 7.30pm AEST 12 May 2015 and will continue to 30 June 2017.

Is there anything else to keep in mind?

For those wanting to find out more about this announcement, and other small business measures, please refer to the fact sheet.

Business Accountants Ballarat | Bookkeepers Ballarat | Mortgage Broker Ballarat | Financial Planning Ballarat

Phone: 1300 328 855
Office Address: 902 Howitt Street, Wendouree, Victoria 3355, Australia
Postal Address: PO Box 2234, Bakery Hill, Victoria 3354

Business Accountants Melbourne  | Bookkeepers Melbourne | Mortgage Broker Melbourne | Financial Planning Melbourne 

Business Accountants Sunbury | Bookkeepers Sunbury | Mortgage Broker Sunbury | Financial Planning Sunbury

Business Accountants Gisborne | Bookkeepers Gisborne | Mortgage Broker Gisborne | Financial Planning Gisborne

Phone: 03 97444522
Sunbury Office Address: Suite 13, 33-35 Macedon Street, Sunbury, Victoria 3429, Australia
Gisborne Office Address: 45 Hamilton Street, Gisborne, Victoria 3437, Australia

Postal Address: PO Box 270 Gisborne Victoria 3340

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