BT EOFY SALE

Dear Clients + Customers,

As the financial year end approaches, we want to remind you of the valuable $20,000 Instant Asset Write-Off offered by the Australian Taxation Office (ATO). This incentive allows businesses to immediately deduct the cost of eligible assets costing less than $20,000, reducing your taxable income and boosting your cash flow.

Key Points

• Eligible Assets: New and second-hand assets costing less than $20,000.
  
• Applies To: Businesses with an aggregated turnover of less than $10 million.
  The $20,000 threshold will apply on a per asset basis, so small businesses can instantly write off multiple assets.
  
• Deadline: Small businesses will be able to immediately deduct the full cost of eligible assets costing less than $20,000 that are first used or installed ready for use between 1 July 2023 and 30 June 2025.
  

Don’t miss out on this opportunity to enhance your business while maximizing your tax deductions.

Lear more via the ATO website here.

Kind Regards,

Anthony Mirabile

Financial Accountant for Beyond Tools