Temporary full expensing is ending 30 June 2023

As we mentioned last month, this is your last chance to claim deductions under temporary full expensing.

Under temporary full expensing, businesses with an aggregated turnover of less than $5 billion can generally claim a deduction for the full cost of eligible new assets first held, used or installed ready for use between 6 October 2020 and 30 June 2023, as well as (in some circumstances) costs of improvements to those assets and also the cost of eligible second-hand assets.

Please contact our office if you require any assistance in relation to temporary full expensing.

New clients can receive a free 30 minute, no obligation session to see if we are the right fit for you and your business.