Small Business Tax Deductions

Make the most of Tax Time this year

The end of the financial year is fast approaching! Make sure your small business has everything it needs to succeed, by taking advantage of instant tax deductions on any new assets that cost $20,000* or less.

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*Small businesses with aggregate annual turnover of less than $2 million are immediately able to deduct assets they start to use or install ready for use, provided the assets cost $20,000 or less. This will apply for assets acquired or installed ready for use until 30 June 2017. The $20,000 limit applies to each individual item. Small businesses can apply this $20,000 rule to as many individual items as they wish. These terms are general information only and do not provide any taxation advice. Tax legislation is complex and may have different applications to different taxpayers. Before purchasing any product from this advertisement, you should seek professional advice to determine whether you are able to claim a deduction for such purchases.


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