The instant asset write-off is a tax deduction that reduces the amount of tax your business has to pay. It enables your business to claim a deduction for depreciating assets in the year the asset was purchased and used (or installed ready to use). For example, if your business is in a company structure the most you will ‘get back’ is 27.5% (in 2016-17). If your business is likely to make a tax loss for the year then the bigger deduction might not provide any short-term benefit to you.
22 June 2017
Why 90,000 more businesses can access the $20k instant asset write-off this year
The popular $20,000 instant asset write-off for small business ends on 30 June 2018. This …
Keep Reading+