Some industry groups and sectors in the market can take advantage of new tax deductions. Nu-Tank has put together the following information to help you navigate what’s available with the Australian Taxation Office. We also recommend you speak to your accountant or financial adviser about how these Commonwealth Government offerings can help you.
Get an immediate tax deduction, rather than having to depreciate an asset over the term of its useful life. This applies irrespective of whether the asset is new or second-hand.
Generally for primary producers or irrigation water providers with an ABN
Choose to use the simplified depreciation rules if you have a small business with an aggregated turnover of less than:
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