How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Robin D. Your Own Question
Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 15309
Experience:  15years with H & R Block. Divisional leader, Instructor
Type Your Tax Question Here...
Robin D. is online now
A new question is answered every 9 seconds

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: 2 years ago.
Category: Tax
Expert:  Robin D. replied 2 years 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:  Robin D. replied 2 years ago.
Wanted to touch base with you and make sure all worked out.
Expert:  Robin D. 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.