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Thursday , October , 29 2020
You are here : News  >  Budget Analysis

Federal Budget 2020

What does this mean for the Printing Industry

  • Businesses will be able to claim an immediate deduction of the full value of all new, eligible, depreciable assets of any investment in plant and equipment as an instant asset write-off. Businesses will also be able to claim full deductions for the cost of improvements made to existing depreciable assets.
  • Your business will be able to write off losses from last year, this year and next year back into previous profitable years.
  • Under the new wage subsidy program, businesses that hire a new apprentice or trainee will qualify for a 50% wage subsidy
  • Small business will benefit from simplified GST, fringe benefit tax exemptions, and other cuts in red tape, and free mental health support.

For a complete breakdown click here 

For more details click on the factsheets below.


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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