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The new Government Budget is allowing businesses to claim an immediate tax deduction of the full value of all new, eligible, depreciable assets of any value that are first used or installed before June 30, 2022.
What does this mean for your business?
Your salon is able to claim a tax deduction, for the full price paid, on any product used by your business for income producing purposes, that has a useful life of at least a year. Hair dryers, straighteners, curling tools, clippers, trimmers, scissors, thinners, brushes, combs, capes and aprons… these are all deductable.
Time to give your clients the VERY BEST!
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