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Home/Grants/Australia/Backing Business Investment – Accelerated Depreciation
AUAustralia·Australia·Grant

Backing Business Investment – Accelerated Depreciation

Administered by Australian Government - Department of Industry

Closing in 0 days
Australian GovernmentBusiness SupportAustralia

About this grant

This arrangement allows you to claim depreciation of new business assets at a faster rate in your tax return.

Key facts

Funding amount$1 – $1.0M (non-repayable)
Deadline (0 days remaining)
Grant typeOpen
Funding typeGrant
CountryAustralia
RegionAustralia
Funding bodyAustralian Government - Department of Industry
IndustriesGeneral

Eligibility requirements

All of the following criteria must be met:

  • Businesses with turnover of less than $500 million.
  • Overview
  • Eligible businesses, for the 2019–20 and 2020–21 income years, may be able to deduct the cost of new depreciating assets at an accelerated rate using the backing business investment – accelerated depreciation rules.
  • For each new asset, the backing business investment – accelerated depreciation deduction applies in the income year that the asset is first used or installed ready for use for a taxable purpose.
  • Check if you can apply
  • Eligible businesses
  • Businesses are eligible for the backing business investment – accelerated depreciation deduction if they have an aggregated turnover of less than $500 million in the year they are claiming the deduction. The deduction is available in the 2019-20 and 2020-21 income years.
  • Eligible assets
  • The depreciating asset must:
  • be new and not previously held by another entity (other than as trading stock)
  • be first held on or after 12 March 2020
  • first used or first installed ready for use for a taxable purpose on or after 12 March 2020 until 30 June 2021
  • not have had either of the following applied:
  • temporary full expensing
  • the instant asset write-off rules.
  • Apply now
  • Apply for the Backing Business Investment – Accelerated Depreciation
  • Find out more about your eligibility and how to apply.
  • Learn how to apply
  • Contact information
  • Phone:
  • 13 28 66
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What the funding covers

  • Faster depreciation of assets as tax deductions.

How to apply

  1. 1Visit https://business.gov.au/grants-and-programs/backing-business-investment-accelerated-depreciation for application details

Application tips

Apply on official website

Grant details are sourced from official public databases and reviewed weekly. Eligibility criteria, funding amounts, and deadlines may change without notice. Always confirm details on the Australian Government - Department of Industry website before applying.

FUNDING AMOUNT$1 – $1.0MNon-repayable grant
DEADLINE0 days remaining
GRANT TYPEOpen
COUNTRYAUAustralia
REGIONAustralia
INDUSTRIES
General
Apply on official website
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