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Instant Asset Write-Off $150K

Is your business in a position to purchase new or second-hand assets? You may be eligible to use the expanded Instant Asset Write-Off.

The instant asset write-off can help improve cash flow for businesses by bringing forward tax deductions for eligible expenditure. The threshold applies on a per asset basis, so eligible businesses can immediately write-off multiple assets provided each costs less than $150,000.

Eligible businesses could claim an instant asset write-off for:

  • Multiple assets as long as the cost of each individual asset is less than the relevant threshold.

  • New and second-hand assets.

  • The business portion of the purchase cost in the year the asset is first used or installed ready for use.

You must have your asset in use by 30 June 2020 to be eligible to claim the $150,000 instant asset write-off for this financial year.

Please note that there is a limit to how much can be claimed in relation to certain Motor Vehicles.

Please contact our office to see if you are eligible and to discuss your options. As always, we're here to help.


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