Category Archives: Small Business Tax

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Accelerated depreciation write-off for SMEs

July 1st, 2015
Legislative amendments to implement a 2015 Budget measure to support small businesses have made their way through Parliament. The legislative amendments will allow a short-term accelerated depreciation write-off up to $20,000 (up from the $1,000 threshold) for assets acquired by small businesses. The increased threshold...

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Small business can now write off assets under $20,000

July 9th, 2015
An eligible small business can claim an immediate deduction for any software costing less than $20,000, purchased off the shelf,that is used exclusively in the business. An eligible small business can also claim an immediate deduction for the cost of developing software for use exclusively...

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R&D tax incentive rate reduction back in spotlight

July 15th, 2015
In the 2015 Budget, the Government reiterated its intention to change the rates of assistance under the R&D tax incentive to 43.5% (down from 45%) for eligible entities with a turnover under $20 million per annum and not controlled by a tax exempt entity, and...

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