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Reminder: Immediate deductibility for assets under $20,000 purchased by small businesses (turnover up to $10m) extended until 30 June 2018

In the last Federal Budget the Government announced an extension to the measure providing an instant asset write-off for small businesses. This announcement has since been legislated and small businesses (now defined as businesses with turnover under $10m) can immediately deduct the business portion of most assets if they cost less than $20,000 and are installed ready for use by 30 June 2018.

This deduction is available for each asset that costs less than $20,000, whether new or second-hand.


The contents of this publication are general in nature and we accept no responsibility for persons acting on information contained herein. The content of this newsletter does not constitute specific advice and readers are encouraged to consult their Ruddicks adviser on any matters of interest. © Ruddicks 2017

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