Search This Blog

Tuesday, 27 October 2015

$20,000 instant asset write-off for small businesses has become law

  1. New and second hand assets acquired between 7.30pm on May 12, 2015 and June 30, 2017 can now be immediately written off by small business entities.
  2. Assets costing $20,000 or more will continue to be deducted over time using a small business pool.
  3. The low pool value threshold will also increase to $20,000 to allow for an immediate deduction if the pool balance is less than $20,000 at the end of an income year.
  4. The 'lock-out' rule has been suspended until the end of June 30, 2017. This means small business entities that have previously elected out of the simplified depreciation regime can now re-enter the scheme without having to wait for the 5-year lock-out period to lapse.
  5. A small number of assets may not be eligible for the accelerated depreciation, including:
      • Horticultural plants;
      • Capital works;
      • Assets allocated to a low-value pool or software development pool;
      • Primary production assets that have been elected to be depreciated under the normal depreciation rules rather than the simplified depreciation rules; and
      • Assets leased to another party on a depreciating asset lease.
  6. For more information on the new law, click here.

6 comments:

  1. We at Global Webs Link make committed and astonishing applications utilizing the most innovative and forefront improvements. The applications made by our affiliation are apparently spellbinding. We work with endeavors to amassing adaptable Top Mobile app and website Developer Company in USA that handle veritable issues for your business and clients. Our developed and ace versatile application engineers bundle gather advantageous applications for the most part legitimate for your image and business
    https://ewebsitedevelopment.com/
    Top Mobile App Development Company in USA

    ReplyDelete
  2. The Le_Meridian Funding Service went above and beyond their requirements to assist me with my loan which i used expand my pharmacy business,They were friendly, professional, and absolute gems to work with.I will recommend  anyone looking for loan to contact. Email..lfdsloans@lemeridianfds.com  Or lfdsloans@outlook.com.WhatsApp ... + 19893943740.

    ReplyDelete
  3. I will recommend anyone looking for Business loan to Le_Meridian they helped me with Four Million USD loan to startup my Quilting business and it's was fast When obtaining a loan from them it was surprising at how easy they were to work with. They can finance up to the amount of $500,000.000.00 (Five Hundred Million Dollars) in any region of the world as long as there 1.9% ROI can be guaranteed on the projects.The process was fast and secure. It was definitely a positive experience.Avoid scammers on here and contact Le_Meridian Funding Service On. lfdsloans@lemeridianfds.com / lfdsloans@outlook.com. WhatsApp...+ 19893943740. if you looking for business loan.

    ReplyDelete
  4. I think this is an informative post and it is very useful and knowledgeable. Therefore, I would like to thank you for your efforts in writing this article. Thanks for sharing the best article post. Rajasthan Political Crisis High Court Verdict Sachin Pilot Ashok Gehlot Plea Congress

    ReplyDelete