Tag: Write-Off

Business leaders welcome the $20k instant asset write-off extension but warn late payments are forcing one in three SMBs into credit facilities

Research reveals that, before the outbreak of COVID, 2 in 3 businesses had planned on investing in capital in FY21, which asks the question of whether the asset write-off threshold should be extended further.  The figure comes from an independent survey of 261 Australian businesses – 88 per cent of which are SMEs – commissioned by Money.com.au, […]

The continuation of the $20,000 instant tax write-off for small businesses will come as little surprise: the Treasurer had been hinting heavily at this in his pre-Budget briefings. However, the announcement that businesses with an annual turnover of less than $10 million can claim up to $20,000 worth of depreciating assets each financial year, is […]