Instant Tax write-off increased to $150,000
Instant Tax write-off increased to $150,000
Take advantage of the Government’s Economic Stimulus Package today! Purchase any new machine up to $150,000 exc GST before June 30 to take advantage!
The Government is increasing the instant asset write-off (IAWO) threshold from $30,000 to $150,000 and expanding access to include all businesses with aggregated annual turnover of less than $500 million (up from $50 million) until 30 June 2020. In 2017-18 there were more than 360,000 businesses that benefited from the current IAWO, claiming deductions to the value of over $4 billion. (In use or installed ready for use prior to 30th June 2020)
Terms and conditions apply. Phone any branch to inquire about equipment. Please see your registered tax accountant to determine your asset write-off eligibility.
https://treasury.gov.au/sites/default/files/2020-03/Fact_Sheet-Delivering_support_for_business_investment.pdf |