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Accelerated depreciation deductions to benefit businesses

Accelerated depreciation deductions to benefit businesses

The Government has accelerated depreciation deductions for the next 15 months. Up until June 30, 2021, businesses turning over less than $500 million will be able to deduct 50 per cent of the cost of any eligible asset the moment it’s installed. It’s predicted these two tweaks to the investment rules could benefit up to 3.5 million businesses that collectively employ almost 10 million Australians.

Contact the Centaur Financial team if you would like assistance in determining your eligibility for these initiatives or if you have any other questions we can assist with.

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