Budget 2018/19: Instant Asset W/O Extended

Share us on…

Share on facebook
Share on twitter
Share on linkedin
Share on email

Insights From MCA Accountants

Budget 2018/19: Instant Asset W/O Extended

The Coalition will extend for a further year the $20k immediate tax deduction available to small businesses (defined as those with a turnover less than $10 mil) on asset purchases.

It was scheduled to end on 30 June 2018, now we have an extra year.

We note that this isn’t a “bonus” deduction. It is purely allowing you a tax deduction now in full for the purchase price, whereas normally it would be deductible over a number of years.

(Our thanks to CAANZ for the image from http://bit.ly/2I3fja

Your subscription could not be saved. Please try again.
Your subscription has been successful.

Get notified when we post Insights articles

Get our articles in your favourite RSS reader by adding feeds.feedburner.com/McaInsights to your list.

Have Any Questions?