$150,000 Instant Tax Write-Off - Ends June 30th

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Until June 30th 2020, The Australian Tax Office is providing an instant asset write-off for eligible businesses. Under instant asset write-off eligible businesses can claim an immediate deduction for the business portion of the cost of an asset in the year the asset is first used, or installed ready for use.

Multiple assets may be purchased as long as the cost of each individual asset is less than the relevant threshold. Until June 30th, the threshold is $150,000 for Australian businesses with less than $500 million aggregate turnover.

View more information on the ATO website here