$6,500 Write Off

It’s a quick post today but a really great one.  I wanted to remind everyone about the $6,500 write off which is  available for the current 2012/13 financial year.   In very basic terms if:

1.  You are a Small Business Entity  and

2.  You buy an asset costing less than $6,500

then you can claim an immediate tax deduction.  Previously, the limit was $1,000 and anything over this would need to be depreciated.  This information isn’t new but it was a waiting game until the 2012/13 tax year kicked in.

If you are unsure whether this information applies to you or want more detail – give me a call.  I’ll be going over a few of the new things over the next few weeks, there are some great new tax benefits available for small business owners in the current financial year.

Finally – Welcome to our new readers!  There has been a significant increase in the number of subscribers and I’m thrilled to be able to provide information and tips via the blog.  If you would like me to cover a specific topic or issue, please call or email me.