An increase to the instant asset write off threshold has been announced. Increasing from $30,000 to $150,000 and expanded access to include businesses with aggregated annual turnover of less than $500 million (up from $50 million) until 30 June 2020.
Now is the time to prepare for end of financial year: have you considered how you could take advantage of the $150,000 instant tax write offs?
This $150,000 limit applies to each individual item, however it can also apply to as many individual items as you wish.
In addition to a tax incentive, a well-designed set of stockyards can boost efficiency and productivity with the significantly improved flow of stock, and reduce labour requirements. A win-win!
There has never been a better time to improve your stockyard infrastructure – an asset for the next 50 years! Please contact us if you would like to discuss how we can structure your new stockyard purchase to take advantage of this tax incentive.
This offer ends June 30th, 2020.
Further information on accelerated depreciation is available on the ATO website, or speak to your accountant or financial planner about your eligibility.
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Phone: 1800 805 292