A full deduction for the cost of eligible assets (i.e., regardless of cost) first acquired and first used (or installed and ready for use) for business purposes from 7:30pm (AEDT) on 6 October 2020 to 30 June 2022.

For example if you were to purchase a motor vehicle or forklift and have it ready for use by 30 June 2021 this would be fully deductible in this financial year.

Some assets may include:

- Motor Vehicles (subject to the car limit of $59,136 for 2021 and $60,733 for 2022);

- Forklifts;

- Computers;

- Office Equipment such as desk and chairs;

- Machinery;

- Televisions; and

- Mobile Phones.

If you would like to discuss further please contact us:
McNamara & Company - Chartered Accountants, located minutes from the Melbourne CBD
www.mcnamaraandcompany.com.au/contact-us
Phone +61 3 9428 1062
Email admin@mcnamaraandco.com

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