20K Instant Asset Write-off for Small Businesses Expiring Soon
Until the end of June this year, small businesses with a turnover of under $10 million may be eligible to immediately deduct depreciating assets costing under $20,000 (purchased after 12 May 2015). This instant asset write-off threshold has increased from $1,000.
This is an excellent opportunity for your small business if you are currently thinking about upgrading your IT assets, but must be acted upon quickly.
Please contact OIA if you are interested in discussing upgrades or additions to your IT infrastructure.
More information from the ATO can be found here.
*Please seek independent taxation advice to confirm your eligibility for these concessions.