PHARMACIES with a turnover of less than $10 million will be able to continue to claim the $20,000 instant asset write-off, as announced in the Budget.
The Pharmacy Guild of Australia explained that the 12-month extension given to claim tax benefits is only for newly-purchased assets in use or installed already in pharmacies by 30 Jun 2025.
The tax measure is subject to legislation passing in the Commonwealth Parliament.
Small business owners can also expect their experience when administering Paid Parental Leave to improve, as the government is providing $10 million to Services Australia to this end.
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