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  Maximise Tax deductions through the Accelerated Depreciations Rules before 30th June 2017

Maximise tax deductions for your small business

The end of the financial year is just around the corner and as we draw closer to it, the window for small businesses to maximise tax deductions through the ‘Accelerated Depreciation Rules' becomes even smaller.

Who can take advantage?

The Accelerate Depreciations Rules is applicable to small businesses with a turnover of up to $2 million.

What can be claimed?

Small businesses can claim an immediate tax deduction on assets purchased in the year of purchase/installation that cost up to $20,000 that will be used in the business.

When do I act?

Act now as this provision will cease on the 30th June 2017. Review the needs of your business, consider any equipment, machinery or upgrades that are required and consider bringing fourth acquisitions so you can maximise your benefits.

Be sure that you work with your accountant through this process so you can ensure any step you take is right for your business.

Time is running out. If you would like further information on how you can maximise your tax deductions, contact Neil Wulf on 9678 2144 today!