Bottrell Accountants, Financial Planners & Tax Agents

Depreciation for farmers brought forward

Depreciation for farmers brought forward

The May Budget provided that from 1 July 2016, Australian farmers would be able to claim a tax deduction on capital expenditure incurred on:

  • water facilities;
  •  fodder storage assets; and
  • fencing.

Farmers would be able to fully deduct the cost of water facilities and fencing in the year they were purchased, and deduct the cost of fodder storage assets over three years.

The Treasurer has now announced that this measure will be brought forward to acquisitions of these assets after 7.30pm 12 May 2015.

Farms with turnover of less than $2 million are also eligible to immediately write-off all asset purchases up to $20,000.

 

Interested in joining our team? Why not apply today? 

About Our  Traineeships:-

Join the Market Leader in 2016 – Accounting Traineeships

Looking to study a B.Com at University of Newcastle in 2016?

Bottrell Business Consultants are a Multi Award Winning Firm

We have 2016 Traineeships available – work 3 days Study part-time 2 days

Apply now to Tara Skippen on tara@bottrellaccounting.com.au – send resume & cover letter

www.bottrellaccounting.com.au or check us out on Facebook, Twitter, Instagram or LinkedIn

Offices – East Maitland | Newcastle | Sydney | Melbourne | Brisbane | Gold Coast

11951573_939337562798334_3875447510593119880_o

Bottrell Business Consultants Pty Ltd – Chartered Accountants and Business Advisors.

The Bottrell group incorporates Bottrell Business Consultants, Bottrell Accounting & Taxation, Maitland Accounting & Taxation, East Maitland Accounting Services and Mobile Bookkeeping & Recruitment.

Our group of businesses & links include the following companies (& our websites);-

, , , , , , , , , , ,

Comments are closed.