📣 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 timeframe.
✅ The higher Instant Asset Write-Off (IAWO) threshold provides cash flow benefits for businesses that will be able to immediately deduct purchases of eligible assets each costing less than $150,000. The threshold applies on a per asset basis, so eligible businesses can immediately write‑off multiple assets.
𝗖𝗵𝗲𝗰𝗸 𝘆𝗼𝘂𝗿 𝗘𝗹𝗶𝗴𝗶𝗯𝗶𝗹𝗶𝘁𝘆 𝗮𝗻𝗱 𝗛𝗼𝘄 𝘁𝗼 𝗔𝗽𝗽𝗹𝘆:
𝗦𝘁𝗼𝗻𝗲𝗴𝗮𝘁𝗲 𝗧𝗿𝗮𝗶𝗹𝗲𝗿𝘀 | 𝗬𝗼𝘂𝗿 𝗟𝗼𝗰𝗮𝗹 𝗧𝗿𝗮𝗶𝗹𝗲𝗿 𝗘𝘅𝗽𝗲𝗿𝘁𝘀
Phone: 07 3800 1283