On 15 June 2015, the Australian parliament passed tax measures included in the 2015 Budget to support small businesses. The measures include an increased asset value limit for accelerated depreciation and a reduced corporate tax rate.
Accelerated Depreciation
Accelerated depreciation for small businesses is expanded by allowing small businesses with aggregate annual turnover of less than AUD 2 million to immediately deduct assets they start to use or install ready for use, provided the ass…