It’s good news for SME’s looking to purchase new or second hand 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 Nick Miller on 0429 794 871 or email: firstname.lastname@example.org
Find out more: Moody Kiddell & Partners