*** Australian Government Instant Tax Write Off ***
Update: the increased thresholds have now been extended until 30 December 2020.
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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