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Business tax boost in Hobart

28 June 2015 by News Desk

internetSmall companies in Tasmania are taking advantage of a new tax break that’s worth up to $20,000.

Computer stores and car dealerships have seen a spike in new sales as businesses use new instant asset write-off rules to engage in a spending spree. The new laws, which came into force this month, allow some small businesses to write off every asset purchase under $20,000.

The two-year tax break, aided by low interest rates, has fuelled a surge in spending by small companies in Hobart.

“Business confidence in Hobart at the moment is high. Tax breaks, low interest rates and State Budget incentives have led to a rise in spending”, said Steve Adermann, CEO of Hobart Chamber of Commerce.

The threshold will return to $1000 in June 2017.

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