Temporary Full Expensing - Take Advantage Before June 30
To fast-track business recovery post COVID-19 as part of the Federal Budget 2020, the Federal Government announced an incentive called Temporary Full Expensing, similar to the Instant Asset Write Off Scheme.
Buy your assets before June 30 to save this financial year
That means if you are planning on taking advantage of this incentive, the asset needs to be purchased AND used the end of financial year.
With this scheme, eligible business owners will be able to deduct the full amount of any eligible depreciating business asset. This means that eligible small businesses have an extra incentive to invest for success for their business.