Depreciation Concessions for Small Businesses
There are three important changes to the simplified depreciation rules that apply from the 2012-13 financial year:
- the instant asset write-off threshold increased from $1,000 to $6,500
- a quicker initial deduction of up to $5,000 for motor vehicles
- the long-life small business pool and the general small business pools have been consolidated into a single pool.
For more information, refer to Changes to small business concessions for 2012-13.
Contact A Grade Tax Accountants Penrith on (02) 4731-1405 for all taxation accounting services.
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