Small Business Tax Deductions
The treasurer announced in the 2017 Budget that the Government will extend the $20,000 instant asset write-off for a further 12 months to 30 June 2018. The turnover threshold will also be lifted to $10 million, five times higher than was originally available. Small businesses with aggregate annual turnover of less than $10 million will immediately be able to get a tax deduction for any individual assets they buy costing less than $20,000. This $20,000 limit applies to each individual item. Small businesses can apply this $20,000 rule to as many individual items as they wish.
Airpower provides a number of products which are available for you to claim an immediate tax deduction including Ammann compaction equipment, Kubota brush cutters, lawn mowers and tractors, Howard slashers and Kubota hydraulic hammers. Benefits are limited to the models under $20,000. Contact Airpower Sales team to discuss available options and to take advantage of the new budget today!
If you are not sure whether you are eligible, you should seek a professional advice.