Start-ups in the dark over $6500 instant asset write-off

Start-ups are the least likely to know about the federal government’s $6500 instant asset write-off, according to a new MYOB report, which shows almost 40% aren’t aware of the tax perk. The small business instant asset write-off, which increased from $1000 to $6500 in the 2012 federal budget, applies to small businesses with an […]

Michelle Hammond 13 May, 2013

Start-ups are the least likely to know about the federal government’s $6500 instant asset write-off, according to a new MYOB report, which shows almost 40% aren’t aware of the tax perk.

The small business instant asset write-off, which increased from $1000 to $6500 in the 2012 federal budget, applies to small businesses with an aggregated turnover of less than $2 million.

It means small businesses can immediately write-off assets valued at less than $6000 such as laptops, desks, etc.

MYOB commissioned independent market research firm Colmar Brunton to explore the intended use of the instant asset write-off for their business.