The Federal Budget was handed down on Tuesday evening with a few small changes for Australian tax payers. The most significant change which affects small and medium business, is the instant asset write-off increase to $30,000. This new measure is not a permanent one and is set to be extended through till June 2020, however this may change. Now is a great time to purchase those larger capital assets as a great tax planning strategy before it is removed. If you would like to know what else has changed then please read the below article and feel free to contact our office if you need any clarification on the changes.
https://www.publicaccountant.com.au/news/morrison-government-delivers-measures-favourable-to-sme-sector?fbclid=IwAR2QaZVutzOcjLdHEPAw8Ek-icxqvEzR7Onjw-COQOgV3AS6kEgqanvu59E