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Thinking About Updating Your Business Equipment?

Thinking about updating your business equipment?

Thinking about updating your business equipment?

Do you own a small business?  Thinking about updating your business equipment?

There is less than 3 months till the end of financial year!  If you’re thinking about upgrading your business equipment, please read on…

The Australian Taxation Office’s $20,000 Accelerated Depreciation Scheme, where small businesses can claim an immediate deduction for assets they start to use – or have installed ready for use – provided each depreciable asset costs less than $20,000, ends on 30 June 2017.

Key points for the scheme are;

  • Business assets must cost less than $20,000 + GST (whole asset)
  • Assets must be paid for, installed and ready for use by 30 June
  • Clients can purchase numerous $20,000 assets, however a higher priced asset can not be split into smaller invoices, ie unable to split a $90,000 asset over 5 invoices

There are some exclusions, so if you’re thinking about making some asset purchases to utilise the Accelerated Depreciation Scheme, please call our office on (02) 4962 2022 to discuss.

 

 

 

 

 

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