As a small business owner, if your business turns over under $2 million dollars are year, you can claim immediate deductions on business assets that cost less than $20,000, and invest that extra cash in your business.

 

Businesses or sole traders purchase the items outright and then get the money for the item back as a tax write-off.

 

Traditionally, small business owners have had access to a small write-off threshold, allowing them to invest a nominal amount in capital and immediately claim it back on tax. The threshold was previously set at $1,000 – now it is 20 TIMES HIGHER!

This rule is in effect until 30 June 2017. This gives businesses the ability to take advantage of a rare opportunity to invest aggressively in their future growth.

 

Any item that relates to your business is eligible. This includes

IT hardware such as desktop computers, laptops, tablets, printers

and scanners.

An eligible small business can also claim an immediate

deduction for the cost of developing software for use

exclusively in its business where the cost is less than $20,000.

An exception applies if the entity has previously chosen to

claim deductions for in-house software under the software

development pool rules.

 

No, you can claim as many products under $20,000 as you

desire. There is no limit.

What can Pinpoint I.T offer?

Pinpoint I.T can help you take advantage of this tax incentive.

We are able to help you with updating your office equipment

including:

• Laptops

• Desktops

• Monitors

• Printers

• Phone Systems

• Servers

And much more.