The 'temporary full expensing' - or instant asset write off - announced by the federal government as part of their covid economic stimulus is coming to a close on 30 June 2023.
From 6 October 2020 to the end of this month, most business types could claim an unlimited and immediate tax deduction on the business portion of an asset purchased.
The scheme has allowed many small and medium-sized businesses to invest in new equipment, machinery or vehicles.
Some second-hand business assets have also been eligible.
Although set to terminate this . . .
Access to this content is available via a current Coonamble Times subscription.
Purchase single issue downloads of the Coonamble Times online editions for only $2.50 or become a subscriber for full access to online flip-books, archive downloads and the latest local news content.
For free content see our Featured Local News category