Accelerated depreciation deductions to benefit businesses

Written on the 8 May 2020 by Arrow

Accelerated depreciation deductions to benefit businesses

 

The Government has accelerated depreciation deductions for the next 15 months. Up until June 30, 2021, businesses turning over less than $500 million will be able to deduct 50 per cent of the cost of any eligible asset the moment it's installed. It's predicted these two tweaks to the investment rules could benefit up to 3.5 million businesses that collectively employ almost 10 million Australians.


ArrowAuthor: Arrow

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