Small Business Instant Tax Write Off Increased to $25,000
It’s good news for SME’s looking to purchase new or used equipment.
On 29 January 2019, Prime Minister Scott Morrison announced that the government will introduce legislation to increase the $20,000 instant asset write-off threshold to $25,000. Under the changes, small businesses may immediately claim tax deductions on assets costing less than $25,000, with no limit on the number of assets to be claimed until 30 June 2020.
If you have been thinking about your next purchase, don’t hold off the growth of your business, contact Moody Kiddell for no obligation pre-approved finance.