Instant Asset Write Off Extension
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, consult your Financial Advisor and visit business.gov.au.