Opportunity for write-off extended

Small businesses in the South West have been encouraged to make use of the instant asset write-off, as the Turnbull Government has extended it by a year to 30 June 2018.

Under the initiative, businesses with a turnover of less than $10 million are eligible to apply.

Member for Forrest Nola Marino said the write-off would help small business owners reinvest in their business.

“The instant asset writeoff is a practical initiative for small businesses that will improve cash flow for small business and provide a boost in productivity,” she said.

“The Turnbull Government has cut the small business tax rate to 27.5 per cent to make Australia more globally competitive.”

There are a number of assets eligible under the instant asset write-off including a courier van for courier services, an industrial dishwasher for restaurant owners and a steam cleaner or vacuum for cleaning services.

For more information, visit the Australian Taxation Office website.

Source: Bunbury Mail.