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Tax Robin
Tax Robin, Tax Advisor
Category: General
Satisfied Customers: 13335
Experience:  15 plus years International Tax Law, Instructor
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Just wondering with the new small business tax rebate of

Customer Question

Hi just wondering with the new small business tax rebate of assets under $20000, if i was to buy an asset now will i get the rebate back straight away or will i get it back on my next tax return
Submitted: 1 year ago.
Category: Australian Tax
Expert:  Tax Robin replied 1 year ago.
Hello,The deduction would be claimed when you file. Instead of having to claim the cost over a number of years you would be allowed to so so in one. It would accelerate the depreciation time of the asset.A small business with turnover of less than $2,000,000 can purchase assets up to the value of $20,000 and get an immediate tax deduction for them when they lodge rather than having to write them down over the following years.
Expert:  Tax Robin replied 1 year ago.
Wanted to touch base with you and make sure all worked out.
Expert:  Tax Robin replied 1 year ago.
If my answer addressed your question please rate below or above (let me know if you have difficulty as I believe the system changed), if you need more information reply below.