As you may be aware with the recent budget announcement there has been a lot of talk about the Small Business Tax Breaks.
These tax breaks related to business that have an annual turnover of less than $2 million.
The main announcement that has already taken effect is the $20,000 immediate tax write off that started from budget night.
If you are in need of updating your assets, then take advantage of this incentive. If you are however not in need of this, I would suggest you not spend in order to gain a tax deduction as it doesn’t make good business sense.
Remember at all times you need to keep an eye on you cash and your cashflow as this is the businesses life blood.
If you have any questions you need answered, please drop me a line.