Simplified Depreciation Small Business

implified depreciation for small business (in company tax return or trust tax return)

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 that ends on or after 12 May 2015 to 30 June 2017 (including an existing pool).

These items are for inclusion in your company tax return or trust tax return.

Speak to Taxopia business tax accountants today on 1300 829 674!