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#Everyoneneedsaplan to take advantage of the $20,000 instant write off
Posted by G. Dean McKinnon
on 14 February 2018
$20,000 instant asset write off extended to 30 June 2018
Assets purchased for business use can be immediately written off (if they cost less than $20,000 [per item]) up to 30 June 2018. From 1 July 2018 the threshhold will reduce to $1,000.
You are eligible to claim the immediate business expense deduction if:
- Your business turnover is less than $10 million; and
- The asset was first used or installed ready for use in the income year you are claiming it in.
Follow this link for further information.
Author:G. Dean McKinnon
| Tags:Tax |
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