# Tax Deductible Art & Furniture for Businesses

- Link: https://www.jahroc.com.au/tax-deductible-art-furniture-for-businesses
- Published: 2017-06-03T11:18:37+08:00
- Author: JahRoc Galleries

With the financial year at a near close, the countdown is on…..

Take advantage of the Federal Governments incentive for small businesses and claim
an instant 100% tax deduction on assets purchased for your business before June 
30 2017.

If you qualify as a small business in the 2016-2017 financial year, you can buy 
Art, Sculpture and Fine Furniture assets for your place of business up to the value
of $20,000 for each item.

Talk to your tax professional about how the instant tax write-off can apply to your
business.

An iconic piece of designer furniture or an exceptional piece of artwork helps a
business stand out and be remembered. Choosing the right piece can make a bold statement
bringing enjoyment to your staff and clients, at the same time prove to be an asset
that will appreciate in value over time.

JahRoc Galleries have been helping Australian Small Business operators choose collectable
art and furniture for nearly 30 years and can offer sound advice when choosing the
right piece of art to add to their investment portfolio.

## The coundown is on….

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## Information from the ATO website…

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## Simpler depreciation rules – instant asset write-off

If you are a small business, you can immediately deduct the business portion of 
most assets that cost less than $20,000 each if they were purchased:

 * from 1 July 2016 to 30 June 2017, and your turnover is less than $10 million
 * from 7.30pm on 12 May 2015 to 30 June 2016, and your turnover is less than $2
   million.

This deduction can be used for each asset that costs less than $20,000, whether 
new or second-hand. You claim the deduction through your tax return, in the year
the asset was first used or installed ready for use.

**Please note:** In the Budget 2017, the Government announced an extension of the
$20,000 instant asset write-off threshold to 30 June 2018 – the threshold currently
reduces to $1,000 from 1 July 2017. For more information about the proposed change
see, Extending the immediate deductibility threshold for small business.

**See Also:**

[SIMPLIFIED DEPRECIATION – RULES](https://www.ato.gov.au/business/depreciation-and-capital-expenses-and-allowances/in-detail/depreciating-assets/simplified-depreciation---rules-and-calculations/)

[WHAT’S NEW FOR SMALL BUSINESSES](https://www.ato.gov.au/Business/Small-business-entity-concessions/What-s-new-for-small-business/?anchor=Simplifieddepreciationrulesinstantassetw#Simplifieddepreciationrulesinstantassetw)

## A Taste Of What To buy For Your Office….

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## Shop Latest Arrivals Artworks

Shop ARTWORK

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## Shop ALL FINE FURNITURE

Shop FINE FURNITURE —————

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