Take advantage of Small Business Tax Depreciation

Submitted by Bruce Abel on Tue, 06/09/2015 - 13:04
Small Business Tax Depreciation

Great news for small businesses – and that of course includes medical and dental practices!

The Treasurer, in his Budget last month, announced a $20,000 tax saving per business, effective immediately and open until the end of the 2017 tax year. So if you have an item, up to the value of $20k, that would ordinarily be a tax-deductible expense you don’t just get the 45% back. You get 100% back!

And the really good news is that a new or redeveloped practice website is classified as a legitimate practice expense item that satisfies the criteria for this type of deduction.

Whilst the opportunity is available up until June 2017, why procrastinate any longer? Sign up with Online Medical before June 30 and include it in this years’ tax return. A Christmas present that arrives 6 month early!