Posts tagged "$20000 asset write off"

Small business tax breaks valued at $1.55 billion have passed in the Senate, clearing the way for enterprises nationwide to claim up to $20,000 in bonus deductions this tax season.

Farmers say the federal government's refusal to extend the deadline for the instant asset write-off will leave them short-changed.

Measures to extend and enhance the instant asset write-off have passed the Senate in a post-budget voting blitz that saw 28 bills passed yesterday.

The government has proposed a boost to the instant asset write-off which would increase the threshold and give medium-sized firms access to the scheme.

The government will extend its instant asset write-off but has not announced any plans to improve the awareness or accessibility of the program.

Another extension of the instant asset write-off scheme is on the cards ahead of MYEFO, small business Minister Michaelia Cash says.

While the government's instant asset write-off scheme forms a key part of its small business policy, a large number of firms aren't using it.

Tax breaks are few and far between, and the $20,000 instant asset write-off scheme is a ripper. But more than 60% of businesses aren’t ful…