News & Events
Instant Asset Write Off – Act Now
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. This applies from 12 March 2020 until 30 June 2020, for new or second-hand assets first used or installed ready for use in this time frame.
The higher 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.
The IAWO is due to revert to $1,000 from 1 July 2020.
Now is the time to take advantage of the depreciation changes from the Australian Government.
For full details and to find out whether you are eligible, visit the ATO website Instant Asset Write off Page.
Please download the brochure here or contact us for further information.