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Instant Asset Write-Off to Boost Small Business Spending.

Many restaurants, cafes, caterers and other companies within the food service industry are exactly the type of businesses the 2015 Budget wants to benefit. The increase to the instant asset write-off has jumped from $1,000 to $20,000 and was one of the biggest announcements of the budget. For suppliers of food service equipment and other Business to Business sales representatives this means now is the time to close those sales and encourage new start-ups and bigger investments.

What is the $20,000 Instant Asset Write-off?

“All small businesses will get an immediate tax deduction for any individual assets they buy costing less than $20,000.”  – www.budget.gov.au 

What is the purpose of the new generous small business tax deductions?

Who is eligible?

What equipment is covered?

What about items over $20,000?

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