As a person who stalks the corridors of power, it will not surprise you to know that I have been up in Canberra to talk to powerful people about the Budget.
OK, I was there to go to a conference, but the Budget was on and it was bloody hard to get a hotel.
And so incensed was I that all these lobbyists and journalists had pushed up the price of hotels that I decided to figure out what I could get out of the Budget.
I know now that I am not going to get a company tax cut, but there are plenty of other goodies that small businesses should get their heads around.
The immediate write-off for assets under $6,500 looks particularly juicy. If you buy a depreciable asset (think plant and equipment, everything from tech hardware to office furniture) that costs less than $6,500, you’ll be able to get a tax write-off straight away after July 1.
Similarly, if you buy a car for your business, the first $5,000 will be able to be written off straight away.
These are good initiatives that you could well be able to cash in on, so make sure you do!
Get it done – today!