Instant Asset Write-Off Threshold Increase to $150k
NOW EXTENDED UNTIL 31ST DECEMBER 2020
The instant asset write-off threshold has been increased from $30,000 to $150,000 and expanded access to include businesses with aggregated annual turnover of less than $500 million (up from $50 million).
This applies from 12 March 2020 until 31 December 2020, for new or second‑hand assets first used or installed ready for use in this time frame.
For more information on this, download our Factsheet, or consult your Financial Advisor and visit business.gov.au.