Accelerated depreciation means a win for you!
Take advantage of the ATO’s small business incentive providing an immediate deduction for assets you start to use (or have installed ready for use) costing less than $20,000.
This $20,000 limit applies to each individual item, including a brand new coffee machine! Increasing the depreciation threshold will mean improved cash flow for small businesses. It encourages SMEs to bring forward investment in the assets they need to grow their business and service customers. This threshold also means small businesses spend less time tracking assets across years for tax purposes, thus cutting red tape and allows business owners to focus on running and growing their business.
If you are thinking about investing in an automatic or barista coffee machine for your business, now is the perfect time to take advantage of the new threshold pre 30 June! For a quote please call us on 1300 324 111 or email email@example.com. We recommend you seek advice from your Accountant regarding what accelerated depreciation means for your business.