Instant asset write-off increased and extended
In the 2019-2020 Budget Announcement, the Federal Government proposed to increase the instant asset write-off threshold from $20,000 to $30,000 for eligible assets and also sought to expand the application of the instant asset write-off to apply to both small and medium sized businesses with an aggregated annual turnover of less than $50 million.
This proposal has now been passed as law and applies to all eligible assets first used, or installed ready for use, from 3 April 2019 to 30 June 2020. For Australian small and medium sized business owners, the instant asset write-off scheme is a great way to upgrade vehicles, equipment, and technology - while reducing your taxable income.
Finance your purchase....and still get the tax deduction
KRW can arrange fast and easy loans for business equipment and vehicles - allowing you to claim the tax break while spreading your repayments over a number of years
Contact Andrew Reilly on 0414 380 678 or email email@example.com