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.