Businesses will have another year to utilise the temporary full expensing of depreciating assets measure after it was extended to end on 30 June 2023. The measure was originally introduced to encourage business investment in the backdrop of the COVID-19 pandemic and allowed eligible businesses to deduct the full cost of eligible depreciating assets of any value. Building and other capital works, a s well as software development pools do not generally qualify for full expensing. Neither do second-hand goods for certain entities. Special rules also apply to cars.
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