​​Federal Government Accelerated Depreciation for Small Business Entities initiative extended until 30 June 2018​

• Have you been considering upgrading your equipment?

• Is your business looking to implement me energy efficiency upgrades?

• Are you a business with an annual turnover of less than $10 Million (increased from $2 million on 1 July 2016) dollars?​
  
  

The Federal Government accelerated depreciation for small businesses initiative is an excellent opportunity to improve the ROI of efficiency upgrades and help your small business.

If you buy an asset by 30 June, costing less than $20,000, you can now write off the business portion in your tax return (If the asset was first used or installed ready for use in the income year you are claiming it in).​

Assets that cost more than $20,000 will continue to be deducted over time using the general small business pool. The balance of this pool can then be deducted if the balance (before applying any other depreciation deduction) is less than $20,000 at the end of an income year.

By taking advantage of this initiative when costing and implementing your energy saving projects, your tax savings can be added to the energy cost savings, amplifying the financial benefits and getting more money back to your small business.

Find out more and get support from the Australian Tax office.​​