Asset Write-Off Increases after 2018-19 Federal Budget Announcement
Don’t forget the government’s 2018-19 Federal Budget announcement for asset write-offs has been increased to $30,000 and expanded to businesses with a turnover of up to $50 million.^
This means eligible businesses^:
- with a turnover of up to $50 million, will be able to write-off the asset value of new and used equipment costing $30,000 or less, if it is acquired and installed for use from 2 April 2019 and 30 June 2020. Effective immediately and includes businesses with a turnover of up to $50 million.
- with turnover of $10 million, will be able to write-off the asset value of new and used equipment costing $25,000 or less, if it was acquired and installed for use between 29 January and 1 April 2019.* *Yet to be legislated.
- with turnover of $10 million, will be able to write-off the asset value of new and used equipment costing $20,000 or less, if it was acquired and installed for use between 1 July 2016 and 29 January 2019.
More information…
For further details, please speak with Bevon Sinnott on 0419 914 426.
At Intercorp Financial Strategies, we have a team that can provide sound mortgage advice and high quality financial services. We are a mortgage broker in Wangara headed by Bevon Sinnott who has the right professional qualifications and years of experience. Contact Bevon today by emailing him on [email protected].