Federal Budget 2015: How do I claim this $20,000 tax break?

Sydney Morning Herald takes an in-depth look at he 2015 budget and explains how to claim your share. If you are registered business, i.e. you have an ABN, and it turned over less that $2 million you can claim. Businesses can buy any machinery or equipment related to their business if each item is valued at less than $20,000. You can claim the full amount from your income to reduce your tax bill. There is no limit on the number of items a business can claim. A long list of machinery and general appliances will be 100 per cent tax deductible.