INSTANT ASSET WRITE-OFF INCREASED & EXTENDED
The instant asset write-off has changed. Now the threshold has been raised to $30,000 and extended to 30 June 2020.
So now is the time to upgrade your old work vehicle and get into a brand new CFMoto with these great business tax time incentives.
WHO IS ELIGIBLE?
Small businesses. You are a small business if you are an individual, partnership, company or trust that does both of the following:
- - Operates a business for all or part of the income year.
- - Has less than $2 million aggregated turnover.
- - Also now includes business with a turnover from $10 million to less than $50 million.
Full details can be found at www.ato.gov.au
Before acting, customers should always seek their own professional advice from a qualified chartered accountant to ensure they are making the correct decision based on their own personal circumstances.