$20K Small Business Write Off Extended…

By Lexi Goulden 10 months ago

Good News the Government has extended the $20,000 Small Business asset write until the 30th of June 2019.
This means you have another 12 months of being able to deduct up to $20000 of assets bought, from your taxable income, However be aware this does not mean you will get $20K back in your hands its simply means you your tax payable will reduce (i.e. you will save approx 30c for every $1 deducted).
After 30 June 2019 it will revert back to $1000.

Now is the perfect time for Tax Planning, Reflect on what your business has done thus far and get ready for the new financial year.

  Bookkeeping Tips, Business, EOFY, Startup, Tax
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