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Pursuit Insights offers updates and snippets from our industry, If you should wish to discuss anything further, please do not hesitate to contact our office

The $25,000 Promise

The 25,000 Dollar Promise

The current Instant tax-write off looks to be upped to $25,000 for small businesses.

Ahead of the federal election,Prime Minister Scott Morrison announced the government would increase the instant asset write-off threshold to $25,000, effective immediately, with legislation to be introduced "as a priority" when parliament resumes on February 12.

Currently, businesses that have an annual turnover of less than $10 million and fall under the banner of the 'Small Business Sector', are able to access the instant write-off of $20,000 when purchasing new assets.

However under new legislation, businesses will be able to write-off up to $25,000 up until 30 June 2020. 

 
Please contact our office if you would like to discuss this opportunity further.

 

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Dale Sumner - General Manager of Lakes Entrance Fishermens Co-op & Leftrade Limited

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Robert Radford- R. Radford & Sons Pty Ltd

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Jessie Ballantyne - The Grants Hub