35 per cent of Australian small businesses have not heard of the instant asset write-off 46% of small businesses that are aware of the write-off are likely to take advantage of the increased limit of $150,000 One in two (46 per cent) of SMEs that intend to use the instant asset write-off will invest in… Read more »
Following lobbying from small business advocates and the opposition, the Morrison government has announced it will extend the $150k instant asset write-off until December 2020. Businesses making up to $500 million per year will be able to write off new assets worth up to $150,000 each under the extended scheme which was part of a… Read more »
The pressure COVID-19 has put on small and medium businesses is staggering. In less than a month following Australia’s new trading and social distancing laws, two-thirds of the country’s SMBs have already reported a slump in revenue, with one in ten businesses grinding to a halt all together. The government’s stimulus package and financial benefit… Read more »
Right now, Australia is in the grip of the global COVID-19 pandemic, and so much has changed in a short space of time that some of us are finding it hard to keep up, writes Reuven Barukh, CEO of LIVE Group. As restrictions continue to affect the way we live and work, there’s no doubt… Read more »
Leading SME lender OnDeck suggests small business owners looking to take advantage of the instant asset write off need to act quickly to secure finance.
A national study has found small business owners are failing to take advantage of the instant asset write off and are missing out on potential deductions
The Australian Small Business and Family Enterprise Ombudsman (ASBFEO), Kate Carnell, has welcomed the announcement by the government of the extension of the $20k instant asset tax write-off. The instant asset write-off scheme will now be extended to small businesses until 30 June 2020 with an increase to the write off to include assets purchased… Read more »
Australia’s small businesses may see some relief this financial year with Treasurer Scott Morrison announcing the extension of the $20,000 instant asset write-off in the 2018-19 Federal Budget. The write-off was slated to end this financial year, however, it has now been extended until June 30, 2019. The instant asset write-off allows businesses to claim… Read more »