This year’s budget saw some key changes and improvements for small businesses. The most significant being perhaps the accelerated depreciation; all small businesses will get an immediate tax deduction for any individual assets they buy costing less than $20,000. (Currently, the threshold sits at $1,000).
This $20,000 limit applies to each individual item. Small businesses can apply this $20,000 rule to as many individual items as they wish. These arrangements start from Budget night and continue until the end of June 2017.
More information can be found here: