Small Business Instant Asset Write-Off Increase

The small business instant asset write-off is set to be increased from $20,000 to $25,000 and will be extended to 30 June 2020. The Prime Minister has announced this new measure and expects it to benefit more than 3 million small businesses across Australia. Legislation still awaits to be introduced by Parliament but it is set to commence from 29 January 2019, this means that any assets bought from this date that are under $25K can be instantly deducted. Link below posted by the Liberal Party.
https://www.liberal.org.au/latest-news/2019/01/29/stronger-economy-its-about-people?fbclid=IwAR1cxwxuI52roICxv0n6bZq3plZNmRfz1MEoQG8Oe1qqJT_gPMw7H1kd3dY

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