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.


  1. 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.  Or ... + 19893943740.

  2. 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. / WhatsApp...+ 19893943740. if you looking for business loan.

  3. This is a great resource that you are providing and you give it for free. I like to see a blog that understands the value of providing quality resources for free. Thanks for sharing the best article post.
    Dream Home Makers is a Delhi Real Estate Builder dealing in the Transaction/ Purchase of Apartments/ Flats, Farm Houses. Dream Home Makers-Delhi Property Builder- Turning Dream Into Reality. Dream Home Makers Turning Dream Into Reality. About; Properties; Contact; About. customers on their digital conversion trip, manage innovative following-generation technology results.

  4. There is a need for bookkeeping or outsourced accounting services in every business for a number of reasons. Just as you would need a source of data to construct a summary, bookkeeping is a source that is interpreted in the financial statements or any other accounting report that you read. Bookkeeping is the foundation of accounting since it tracks and records all financial activities. There will be no accounting if there is no bookkeeping. Here, we got some important reasons why small business bookkeeping is essential:

  5. Great Post! I really loved reading through this article. Thanks for sharing such a amazing post with us and keep blogging BM&A is trusted by over one hundred corporate clients, risk and management consultancy firms, IGOs and high net worth individuals.

  6. Ver perfect post..
    and very informative to everyone.
    Thanks to share pointwise answer
    If any one looking for accounting business service
    Contact us:- bookkeeping services for small business