Take advantage of immediate tax deductions for small business assets under $30,000. This applies to small businesses with an aggregated annual turnover of less than 10 million dollars. ^

 

WHICH ASSETS ARE ELIGIBLE?
  • All depreciating assets (both new and second hand) such as ID Card Printers

 

ASSETS WHICH ARE EXCLUDED:
  • Capital works
  • Assets leased out to another party on a depreciating asset lease
  • Software or other assets allocated to a low-value pool or software development pool
  • Primary production assets for which normal depreciation rules apply
  • Horticultural plants

 

You can only claim a deduction in the year the asset is first in use or installed for use and the extent to which the asset is used is an income earning activity for taxable purposes

^All information on this page was sourced from https://www.ato.gov.au/business/small-business-entity-concessions/what-s-new-for-small-business/