The federal government has introduced legislation to end the Mineral Resources Rent Tax (MRRT). Included in that legislation is an end to the small business instant asset write-off.
The legislation ends the instant asset write-off for equipment installed after January 1, 2014.
Newsagents planning on purchasing assets such as new computers or other new equipment for the business in the next year or two should act now to get the instant asset write-off.
You have six weeks to act and lock in your instant-asset write off.
You can finance the purchase or pay COD. There are finance broker businesses that support newsagents and through which finance can be arranged.