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Changes to the instant asset write-off scheme for business

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The instant asset write-off scheme allows eligible businesses to immediately write off, as an expense for tax purposes, new or second-hand asset purchases. For the period 12 March until 31st December 2020, the instant asset write-off has increased as follows: Threshold amount for each asset increased to $150,000 excluding GST (up from $30,000) Eligibility expanded […]

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How to Use the Extended Instant Asset Write-off in Your Business

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The Australian Government has announced an increase in the instant asset write-off from $30,000 to $150,000 in response to the economic impact of the coronavirus. The increased limit is in effect until 30 June 2020. Amid novel coronavirus (COVID-2019), this is likely to be welcome news for many Australian SMEs. In 2017-18, there were more […]

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9 Ways To Overcome A Cash Flow Crunch

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Cash flow is a constant challenge for many small to medium businesses. There are many reasons why businesses run into a cash flow crunch – it could be slow debt collection, bad debt, seasonal sales fluctuations, overinvestment in production capacity, or too much stock. Whatever the cause, a cash flow crunch can be a threat […]