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FEDERAL Budget 2015-16 Savings For Small Businesses

It is the end of another financial year and is the time of EFOY sales. The Australian Government announced a new measure in the 2015 Budget and Small businesses have right environment and at the right time to invest.

With FEDERAL Budget 2015-16, small businesses with annual turnover of less than $2 million can claim immediate tax deduction for any assets up to $20,000. The benefit is that this is going to replace the previous instant asset write-off threshold of $1,000.

This bonanza, which will last until the end of June 2017, is designed to boost spending in the economy and this $20,000 limit applies to each individual item.

At Total Solar Solutions we have commercial solar systems to meet your business requirements. Take this opportunity and get solar power for your small business. Contact Total Solar Solutions today and make your purchase before 30 June 2015 to claim the tax return for this year.

Please take professional advice or ring ATO if you are not sure whether you can make a claim for this tax deduction.

Find useful information at following links;

http://www.budget.gov.au/2015-16/content/highlights/jobsandsmallbusiness.html

https://www.ato.gov.au/General/New-legislation/In-detail/Direct-taxes/Income-tax-for-businesses/Small-Business—expanding-accelerated-depreciation/

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