Just think about what you can do with $6,500.

The long life small business pool and the general small business pool have been consolidated into a single pool to be written off at one rate.

Small businesses can claim an accelerated initial deduction for motor vehicles acquired in 2012-13 and subsequent years.

The small business instant asset write-off threshold has increased from $1,000 to $6,500.

HereвЂ™s what changed last year but might only seem important to you now: The change became effective in July last year but its relevance to small business owners is only likely to sink in now, as June 30 looms near. The Australia ATO has increased the small business instant asset write-off threshold from $1,000 to $6,500. If youвЂ™re a SMB with less that $2 million in turnover annually, youвЂ™re getting a break вЂ“ a tax break, that is. HereвЂ™s a neat little tax change that may have slipped your attention as we wind up this financial year.

Instant asset write off for small business. Whatever, your needs are, now is the time. Have you been meaning to replace that lump of junk you call a laptop? Need a more comfy office chair? How about a new paper shredder to replace the imported woodchuckВ youвЂ™veВ been holding against its will for all these years?

How to master the art of deduction