If you're a business owner operating in Australia, you've no doubt already heard at least a little about recent changes to the tax structure in the country. When it comes to small businesses and the way that assets depreciate, you may now claim up to $20,000 in immediate write-offs. For small business owners around the country, this is incredibly fortunate news. These new write-offs can give businesses a well-deserved financial boost, enabling them to purchase the equipment that both their business and their customers depend on.
Tax Deduction Specifics
In order to qualify for the $20,000 in immediate write-offs, a few key conditions have to apply. For starters, your small business must have an aggregate annual turnover of less than $2 million in order to qualify for the deductions in the first place. Additionally, the assets that you plan on writing off have to have been purchased or installed and ready for use before 30 June 2017.
It's also important to note that the $20,000 deduction limit applies to each individual item that you're purchasing, so long as the asset in question cost less than $20,000 in the first place. Depending on the type of business that you're running, you may be able to deduct up to the full amount on as many items as you wish so long as all of these terms and conditions apply to your specific situation.
At Cafeideas, we're incredibly excited about the tax deduction opportunities that are being extended to small business owners all over the country. After all, they are the foundation of our economy and they play such an important role in our lives and in our communities on a daily basis.
It is with the spirit of that idea in mind that we're incredibly proud to offer a robust selection of commercial kitchen equipment, catering equipment and other items on a daily basis. In order to help take the advantages of these tax deductions one step further, we're even offering deep discounts on a huge number of items available today.
Cafeideas is currently running an End of Financial Year Sale, for example, allowing you to get maximum upfront savings on thousands of different items in our inventory. You can feel free to check out our catalogue for more information. Keep in mind, however, that the End of Financial Year Sale isn't something that is going to be around forever (one more week in fact!), so you need to act fast before these items return to their regular prices.
You'll also want to act fast so that you can take full advantage of the tax deductions along with our sale, as well. By combining the two, you're giving your business the added benefit that it needs to continue to grow and evolve well into the future.