Small Business Tax Relief scheme

Some More information regarding the latest federal budget measures to encourage small business growth

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Small Business Tax Relief Scheme

The Federal budget has handed down a new tax scheme for small business's in a hope to encourage growth

A key element to this scheme is that Small business's that earn less than 2 million per annum will be able to claim accelerated depreciation on any item under $20,000. this can be applied to any individual item as well. since a phone system is made of many individual items all under $20,000 you will be able to get any phone system you need with the benefits of instant depreciation.

the following is taken directly from the federal budget website


All small businesses will get an immediate tax deduction for any individual assets they buy costing less than $20,000. (Currently, the threshold sits at $1,000).

This $20,000 limit applies to each individual item. Small businesses can apply this $20,000 rule to as many individual items as they wish. These arrangements start from Budget night and continue until the end of June 2017.

Further information on accelerated depreciation is available on the ATO website.