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This measure is intended to provide cash flow relief at a time businesses are impacted by COVID and for many the tax relief will be welcomed.
The new temporary full expensing measure assists cashflow, by allowing eligible business clients to fully deduct upfront the cost of most assets in the year that they are first installed ready for use (rather than the deduction being potentially spread out over a number of years). The measure is intended to provide cash flow relief at a time businesses are impacted by COVID and for many the tax relief will be welcomed. Find out more