Federal Budget 2017 – Good news for Small Business

EOFY Spending spree

Assets costing less than $20,000 continue to be an immediate write off for a further 12 months to 30 June 2018.

Only applies to small business entities with an aggregated turnover of less than $10 million. In order to obtain the tax deduction, the asset must be first used or installed ready for use by 30 June 2018. After 30 June 2018, the threshold reverts back to $1,000.

As always, give us a call if you require further information