{{#renderClientSide}}
{{#renderClientSide__inner}} {{/renderClientSide__inner}}
{{/renderClientSide}}
budget 2015 hero

Budget 2015: Tax bonus for small businesses

13 May 2015

Starting from the announcement of the Budget, small businesses will now benefit from accelerated depreciation on their individual assets that cost less than $20,000 (this was previously only $1,000). This means that you can immediately claim a tax deduction on all those assets under $20,000. “If you’re a tradie, it might be new tools or a computer for the home office”, said Joe Hockey.

Even better news is that this $20,000 limit is per item, so you can apply this rule to as many items as you like. According to the Government, the plan is to improve cash flow for your business and to help encourage you to invest in the assets you need now, so that you can grow your business and better serve your customers.

This means that you can invest more in the things that you need to get the job done, and spend less time keeping track of your assets across years for tax purposes. Check out the great deals in our Tool Envy promotion and take advantage of this tax deduction announcement.

For more information on the changes and what they mean for you, visit the Australian Government's website here.

Additional source: Sydney Morning Herald

Before acting on any of the key outcomes from the 2015 Federal Budget, we recommend seeking out professional advice.

Leave a comment:

Recommended Stories

Outlet Reece Academy Social Thumb 29 Nov 2018

Reece Academy - Improving Profitability for Tradies

 Tradies everywhere are busy pouring blood, sweat and tears into their business. But busy doesn't al...

Read More
Outlet Reece Academy Social Thumb 1 Nov 2018

Reece Academy - Time Management for Tradies

We're heading into the busiest time of the year, so it's more important than ever to manage your tim...

Read More
Outlet Reece Academy Social Thumb 10 Oct 2018

Reece Academy - Social Media Marketing for Tradies Ep2

 How to grow your trade business using Social MediaSearch habits are changing, and consumers are now...

Read More
{{#isMaxUser}}
{{/isMaxUser}} {{#REMOVE_CONTENT_WHEN_RENDERED}} {{/REMOVE_CONTENT_WHEN_RENDERED}}
{{#renderClientSide}}
{{/renderClientSide}}