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Just wondering with the new small business tax rebate of

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Hi just wondering with the...
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: 2 years ago.Category: Tax
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Answered in 1 hour by:
7/10/2015
Tax Professional: Robin D., Senior Tax Advisor 4 replied 2 years ago
Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 15,870
Experience: 15years with H & R Block. Divisional leader, Instructor
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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.
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Tax Professional: Robin D., Senior Tax Advisor 4 replied 2 years ago
Wanted to touch base with you and make sure all worked out.
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Tax Professional: Robin D., Senior Tax Advisor 4 replied 2 years 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.
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Robin D.
Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 15,870
15,870 Satisfied Customers
Experience: 15years with H & R Block. Divisional leader, Instructor

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