This has been a great tool for small businesses to reduce tax payable, at the same time allowing small businesses to update tired and obsolete plant & equipment, even extending to those motor vehicles.
These rules allow a full deduction on these assets whether they are new or second-hand, providing that they cost equal or less than $20,000. To take advantage of this deduction, your assets must be bought, used, or installed ready for use before 30 June 2018.
Other conditions do apply, so to take advantage of the $20,000 Instant Deduction before it is withdrawn, contact us on 9584 6600 and we will confirm if your business qualifies to use for The Small Business Write Off Rules.