Accounting

Small Business NEWS

         Instant asset write-off for eligible businesses Under the instant asset write-off, eligible businesses can claim an immediate deduction for the business portion of the cost of an asset in the year the asset is first used, or installed ready for use. Instant asset write-off can be used for: o    multiple assets …

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Research and Development Tax Incentive

The Research and development (R&D) tax incentive encourages companies to engage in R&D benefiting Australia, by providing a tax offset for eligible R&D activities. It has two core components: o    a refundable tax offset for certain eligible entities whose aggregated turnover is less than $20 million o    a non-refundable tax offset for all other eligible entities. The R&D …

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