Running a small business? Enjoy a tax-time treat with a $30k instant asset write-off.
Running a business is hard work. Between keeping customers happy and the bills at bay, there’s a lot to balance in being your own boss. Thankfully, the Australian Tax Office just made life that little bit easier.
The ATO’s ‘Instant Asset Write-Off Threshold’ for small businesses has just increased to $30,000. So, if you’re a small business with a turnover of up to $50 million, you can claim new and second-hand assets of up to $30,000 at tax time.
Buy that new car you’ve been eyeing off, that truck for your crew or the forklift you’ve had on your wish-list – and deduct the business-use portion of your purchases from your tax.
This all means money in your pocket and shiny new equipment in your future.
If you want to save on your tax this year – act now! Contact Chris to take advantage of this limited opportunity!
This is general information and does not take into account your particular circumstances, such as your objectives, financial situation and needs. Please contact your tax adviser to confirm eligibility.