Reduce your tax bill with Avant and the $150,000 Instant Asset Write-Off
April 9, 2020
As a small business owner, you can reduce your tax bill by investing in eligible depreciating machinery and equipment for your business with the Australian Tax Office’s Instant Asset Write Off scheme which has been increased to $150,000.
The Australian Government has made changes to the Instant Asset Write-Off scheme. From the 12th March 2020 until 30th June 2020 the Instant Asset Write-Off:
– Threshold amount for each asset is $150,000 (up from $30,000)
– Eligibility has been expanded to cover businesses with an aggregated turnover of less than $500 million (up from $50 million).
With the 2019/2020 tax year soon coming to an end it is the perfect time to purchase or upgrade your machinery and equipment with the Instant Asset Write-off scheme.
Businesses can claim an instant tax deduction, of up to $150,000 on the cost of their equipment and machinery, rather than depreciating it over several years.
Avant Equipment has a range of compact articulated loaders and attachments that could assist you in reducing your tax burden this financial year. Remember one loader can be used for many applications by simply changing the attachment.
To find out more information on how much your business can spend to take advantage of the Australian Taxation Office Instant Tax Write Off scheme please click here
If you would like to take advantage of the Instant Asset Write Off simply contact us today on 1800 686 411 or email [email protected].
Note: We recommend seeking advice from you accountant and visiting the Australian Tax Office for further clarification on this scheme, prior to purchase.