Finance Options

*** Australian Government Instant Tax Write Off ***

Update: the increased thresholds have now been extended until 30 December 2020.

https://www.ato.gov.au/Business/Depreciation-and-capital-expenses-and-allowances/Simpler-depreciation-for-small-business/Instant-asset-write-off/

As part of the economic stimulus package, the instant asset write-off threshold has been increased from $30 K to $150 K. The write-off is also expanded to businesses with an annual turnover of less than $500 mil.

The instant write-off applies to new or second-hand first-used assets installed and ready for use before 30 June 2020. (see update above)

https://treasury.gov.au/sites/default/files/2020-03/Fact_sheet-Support_for_business_investment.pdf

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