![]() Business owners, if you have a small business with an aggregated annual turnover (the total normal income of your business and that of any associated businesses) of less than $2 million, be reminded that to utilise simplified depreciation rules with immediate write off (deduct) deprecating assets that cost less than $20,000 each, the assets must be purchased, used or installed ready for use before 30 June 2017. Under these rules, you:
If you choose to use the simplified depreciation rules, you must:
Source : ATO website
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