From 12 May 2015 until 28 January 2019 You can immediately deduct the business portion of most depreciating assets costing less than $20,000 each (the instant asset write-off threshold)
From 29 January 2019 before 2 April 2019 You can immediately deduct the business portion of most depreciating assets costing less than $25,000 each (the instant asset write-off threshold)
From 2 April 2019 until 30 June 2020 You can immediately deduct the business portion of most depreciating assets costing less than $30,000 each (the instant asset write-off threshold) Business with a turnover from $10million to less than $50million may be eligible for the instant asset write-off for assets purchased for less than $30,000 each from 2 April 2019 to 30 June 2020. For assets purchased for $30,000 or more, the general depreciation rules must be used. |
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