Extending, increasing and expanding access to the instant asset write-off

The instant asset write-off threshold has increased to $30,000 for each asset from 2 April 2019 and the instant asset write-off has been extended to 30 June 2020.

Impacts

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.