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by lukeh 245 days ago
Also, you can only deduct it in a single financial year if you are eligible for the Instant asset write-off program.

I'm sure I'll get downvoted for this, but this common misunderstanding about tax deductions does remind me of a certain Seinfeld episode :)

Kramer: It's just a write off for them

Jerry: How is it a write off?

Kramer: They just write it off

Jerry: Write it off what?

Kramer: Jerry all these big companies they write off everything

Jerry: You don't even know what a write off is

Kramer: Do you?

Jerry: No. I don't

Kramer: But they do and they are the ones writing it off

1 comments

Correct. You can deduct over multiple years, so you do get the same amount back.