$20,000 Small Business Tax Deduction
The new FY16 Federal Budget has included some benefits for small businesses.
If you operate a small business with a turnover of less than $2 million you can now obtain an immediate tax deduction on selected items costing less than $20,000.
The types of items which are eligible for the accelerated depreciation include anything which is used to run your business for example: Computers, Printers, IT equipment, Office furniture, Vehicles, and Tools. Items which do not apply to the deduction include stock, marketing costs and office software.
Items over $20,000 can be depreciated at 15% in the first year and 30% per year after that until the value drops below $20,000 where it can be deducted immediately.
For more information on these new tax changes please visit http://www.budget.gov.au/2015-16
For assistance with making the right choice for your businesses IT equipment purchases, we are only a phone call away.Call: (02)9560 2955
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