Last Chance for the 20K Deduction

Low Cost Asset Write Off

The $20,000 immediate deduction threshold for assets purchased by businesses with an aggregated turnover of under $10 million ends 30 June 2018.

If you are a small business, and eligible to access this deduction, it’s your last chance. So if you NEED plant and equipment there is a argument to purchase before 30 June 2018.

Remember that if you don’t need anything, then don’t buy just for the sake of it. It makes no sense to spend a $1 in order to save 27.5 cents !

Lindsay

Great news, since this was first published, the May 2018 budget has extended this for a further 12 months to June 2019

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