The business instant asset write off deduction has been increased from $20,000 to $30,000 until June 2020. The $30,000 threshold applies from assets purchased from 2 April 2019.
Medium sized businesses up to a turnover of less than $50m are also eligible, in addition to small businesses with an aggregated turnover of less than $10 million as has applied previously.
Please talk to the friendly team at Wangara Suzuki for more information or to answer any questions that you may have.
- It is the responsibility of the customer to obtain their own tax advice with respect to their eligibility for the write‐off; and
- Any comments we provide are not tax advice and are for general discussion purposes only and as such, cannot be relied upon.