Opportunity: $20,000 asset write-off extended

The ATO and Government have extended the instant asset write-off threshold of $20,000 for small businesses to 30 June 2018.

In short, if you (i) purchase an asset that costs less than $20,000, (ii) you are a small business with a turnover less than $10m, and (iii) the asset was first used or installed ready for use in the income year you are claiming in, you can immediately deduct the business portion in your tax return.

Since its introduction in May 2015, Maxim has helped many clients through this process.

If you would like to discuss how you can take advantage of this initiative before it’s too late, contact us today! 

For further information, please click here




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