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Instant Asset write-off extension a significant boost to SME investment

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“SMEs across the country will welcome the announcement by the Prime Minister of the planned extension for the 2019-20 year of instant asset write-off arrangements for Australian SMEs and a raising of the threshold from $20,000 to $25,000 from today,” Innes Willox, Chief Executive of Ai Group, said.

“The extension of the arrangements and the new threshold will allow small businesses to claim immediate deductions for asset purchases up to the value of $25,000 for assets purchased between now and the end of June 2019 with a similar immediate deduction available for the 2019-20 year.

“The measure provides a significant cash flow reward for SMEs who are investing and growing their businesses and it simplifies their tax and record keeping paperwork,” Mr Willox said.

Source: Ai Group

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