Hello and welcome to the AUSPAN Agricultural Inform for November 2021!
INSTANT ASSET WRITE OFF
With the 2021 harvest getting underway and likely to support investment decisions for the coming season – it is worth noting that the 100% instant asset write off tax incentive is still available now and due to expire at the end of this financial year, just 8 months away. June 2022.
This incentive is regularly used for machinery purchases & upgrades; but it is worth understanding that a long-term asset that is fixed to your property like a grain & fertilizer or hay storage facility is generally a better tax deduction because when a machinery asset is sold or traded at a later date, and it has already been 100% depreciated…then it’s complete sale value is added to your taxable income.
You may visit the ATO website by clicking here where you can learn more about this tax incentive.
BUNNINGS ALBANY WINS AN AWARD
The new Bunnings in Albany is a recent project that our Commercial team have worked on and it has been recognised as the ‘Best Retail Building within the $10-20m braket at the 2021 Great Southern Master Builders Building Excellence Awards!”
A huge shoutout to the project team – It was a privilege to be part of this amazing project! Congratulations!
Thanks for reading, stay safe and all the best for November!
