Asset write-off for businesses extended

(Australian Associated Press)

 

The instant tax write-off for small businesses buying assets for under $20,000 will be extended to June 2019.

The measure allows businesses with annual turnover of less than $10 million to immediately deduct purchases of most assets under $20,000.

The 12-month extension cleared parliament on Wednesday, continuing the scheme which was first introduced in the 2015/16 budget.

 

Photo by Craig Garner on Unsplash

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