Incentives For Small Business - Asset Finance

April 18, 2017
Sarah Jeffery

The ATO currently has incentives for small business to purchase equipment and claim an immediate tax deduction. This initiative finishes on 30 June 2017.

ARE YOU A SMALL BUSINESS?

Definition - Any business that meets the definition of a small business entity that is one with an aggregated turnover less than $2 million

ARE YOU LOOKING TO PURCHASE EQUIPMENT FOR YOUR BUSINESS?

Maybe you are a Primary producer looking to purchase fencing and water facilities such as dams, tanks, bores, irrigation channels, pumps, water towers and windmills.

Or maybe your small business needs to update its equipment: purchase a vehicle, computer, printer – basically any depreciating asset that you purchase for less than $20,000 (Excluding GST).

Why not have a look at the link below and see if these initiatives apply to your business. If so, give us a call and we can take the stress out of finding a great finance deal.

https://www.ato.gov.au/general/new-legislation/in-detail/direct-taxes/income-tax-for-businesses/small-business---expanding-accelerated-depreciation/?page=1#Legislation_and_supporting_material

 

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