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Budget 2021: Business tax breaks extended to 2023 – The Australian Financial Review

More than 99 per cent of businesses will be allowed to deduct the full cost of eligible capital assets until June 30, 2023, under the one-year extension.



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It applies to about $320 billion worth of investment, including software, technology, vehicles, plant and equipment. Treasury expects projects requiring longer planning times will benefit from the additional flexibility.
From July 1, 2023, normal depreciation arrangements will apply again.
After lobbying by advocates and Business Council of Australia boss Jennifer Westacott, Treasurer Josh Frydenberg tweaked the full expensing rules in November. That move allowed major employers including Dulux,…

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