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Backing Business Investment (BBI)

Grant Run By: Australian Taxation Office Further Information: https://business.gov.au/risk-management/emergency-management/coronavirus-information-and-support-for-business/backing-business-investment-bbi

A time limited 15 month investment incentive to support business investment and economic growth over the short term, by accelerating depreciation deductions. This applies to eligible assets acquired from 12 March 2020 and first used or installed by 30 June 2021. Businesses with a turnover of less than $500 million will be able to deduct 50 per cent of the cost of an eligible asset on installation, with existing depreciation rules applying to the balance of the asset cost.

Last Updated: 2nd of November 2020
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