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Budget blowout of $370 million for small business instant asset tax write-off

Budget blowout of $370 million for small business instant asset tax write-off

The government's small business instant asset tax write-off is expected to result in a short-term budget blow out of $370 million over the next two years according to figures released by Treasury last week.

by Shared by The Sydney Morning Herald | Feb 3, 2016

The government’s annual Tax Expenditures Statement shows the accelerated depreciation measure which allows small businesses to claim up to $20,000 in immediate deductions for assets will cost $2020 million over 2017 and 2018 financial years.

Read the full story at The Sydney Morning Herald.