Claim your $20,000 instant asset tax write-off before 30 June!
If you’re considering using this tax break before the end of this financial year, then its important you know exactly how it works so you have the facts. Why not put more money back in your pocket? If you need it, this is a great time to upgrade your technology to help your small business long-term.
THIS IS A GENUINE TAX BREAK WHICH COULD HELP YOUR SMALL BUSINESS
Australian small businesses with an aggregated turnover of less than $10 million may be eligible for this instant asset write off for items $20,000 or less. This special tax depreciation was first offered on 12th May 2015 and was scheduled to cease on 20th June 2017. However, thankfully, in the 2017 Budget, this was extended a further 12 months until 30th June 2018. At this point the previous $2 million threshold was increased to $10 million, where it currently sits.
You are eligible to use simplified depreciation rules and claim an immediate deduction for the business portion of each asset (new or second hand) costing less than $20,000 if: you have a turnover less than $10 million (increased from $2 million on 1 July 2016), and the asset was first used or installed ready for use in the income year you are claiming it in.
- Operating and maintenance costs such as domain name registrations, monthly hosting, ongoing content maintenance and technical maintenance are all deductible in full. See our website support packages and claim to get prepaid packages!
- Website upgrades up to $20,000! See our website services or call us and talk to one of our team members
- Purchase one of our digital marketing packages to get your business strategy moving along!