On 14 May 2024, the government announced in the 2024–25 Budget that the $20,000 instant asset write-off will be extended until 30 June 2025. This extension aims to improve cash flow and reduce compliance costs for small businesses with a turnover under $10 million. Here’s what you need to know:
This could simplify and reduce the cost of investing in necessary equipment, promoting growth and efficiency.
In addition to the instant asset write-off, the Small Business Energy Incentive offers further benefits for energy-efficient investments:
These initiatives not only cut costs but also support environmental sustainability.
Understand the Eligibility Requirements
Identify Necessary Investments
Plan Your Purchases
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