Asset write-off for businesses extended

Disclosure Statement: Durand Financial Services Pty Ltd and its advisers are authorised representatives of Fortnum Private Wealth Ltd ABN 54 139 889 535 AFSL 357306. General Advice Warning: The information contained within this website does not consider your personal circumstances and is of a general nature only. You should not act on it without first obtaining professional financial advice specific to your circumstances.

(Australian Associated Press)

 

The instant tax write-off for small businesses buying assets for under $20,000 will be extended to June 2019.

The measure allows businesses with annual turnover of less than $10 million to immediately deduct purchases of most assets under $20,000.

The 12-month extension cleared parliament on Wednesday, continuing the scheme which was first introduced in the 2015/16 budget.

 

Photo by Craig Garner on Unsplash

0

Like This