You might have thought we knew everything there was to know about last night’s Federal Budget. There was one surprise though, and that was the announcement of a new scheme for businesses turning over less than $2 million to claim a 100% deduction on capital expenditures under $20,000.

The purchase must be a purchase related to the operation of the business – and that doesn’t include horticulture or in-house software – but you can certainly load up on new plant machinery or computers. Even better news is that there is no limit to the amount purchases you can claim, and the deduction is available right now until June 30 2017.

Read more at business.gov.au .