• Small Business - Federal Budget 2019

For the latest federal budget information visit: FEDERAL BUDGET 2022

Small Business

► Higher instant asset write-off for small and medium business extended for 12 months

The Government will extend the current instant asset write-off for Small Business Entities (SBEs) until 30 June 2020 and increase the claimable threshold from $25,000 to $30,000 per asset.

► Division 7A changes deferred

In this Budget, the Government announced that it has deferred the 2018-19 measure to clarify the operation of Division 7A from 1 July 2019 to 1 July 2020.

► Supporting small businesses involved in tax disputes

The Government confirmed in this Budget that it will support small businesses involved in disputes with the Australian Taxation Office (ATO) by providing funding to help small businesses resolve their tax disputes.