Instant asset write-off

Small businesses can immediately deduct the business portion of most assets if they cost less than $20,000 and were purchased between 7:30pm on 12 May 2015 and 30 June 2017.

They can claim the deduction through their tax return.

They can also immediately deduct the balance in the small business pool if it is less than $20,000 at the end of an income year ending on or after 12 May 2015 to 30 June 2017 (including an existing pool).

For more 2016 changes see here

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