Beefed up instant asset write-off and tax-free cash payments to small and medium businesses

The Morrison Government has announced measures to try and stabilise the Australian economy. It was announced a $17.6 billion economic plan would assist in keeping Australians in jobs and support small business and households alike. Changes to the instant asset write-off threshold The instant asset write-off threshold has been...

Continue Reading

Year End Tax Planning – Instant Asset Write-Off

New legislation is now in place for the expanded instant asset write-off. In particular, businesses with a turnover less than $50 million can claim immediate deduction on depreciating assets purchased and first used or installed ready for use up to $30,000 each from 7.30pm (AEDT) on 2 April 2019...

Continue Reading

Instant Asset Write-Off Increased to $25k

Prime Minister Scott Morrison pledged yesterday to increase the small business instant asset write-off to $25,000 from $20,000.

Continue Reading