Business Instant Asset Write-off

Business Instant Asset Write-off

May 30, 2013

“From 1 July 2012 the small business instant asset write-off threshold has been increased from $1,000 to $6,500.”

EOFY[1]

So what does that mean? Basically small business can spend up to $6,500 per asset i.e. computer systems and claim the entire amount this EOFY instead of claiming depreciation in future years.

For more information please go to the ATO’s website:
http://www.ato.gov.au/businesses/content.aspx?doc=/content/00266008.htm&page=3&H3

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