The hospitality industry has suffered greatly with the Coronavirus pandemic. To help small cafe businesses and industry get back on track, the government has increased the IAWO threshold.
Eligible businesses can instantly deduct the costs of newly purchased hospitality furniture worth up to $150,000 until 30, June 2020. You can apply through the Australian Taxation Office site.
Ensure you utilise the instant asset write-off support for your business before the 30, June 2020. As stated on the Australian Government website, your eligibility will depend on the following:
Visit the Australian Government website to find out more.
The government has truly supercharged the market this year with its Coronavirus SME Guarantee Scheme and lifting the threshold amount for claimable purchases to $150,000 from the previous $30,000.
For your furniture requirements, call us at 03 9416 4412 or send us your inquiries here.