Instant Asset Write-off

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Thinking of purchasing assets for your business?

From 6 October 2020, the instant asset write-off threshold has no limit to 30 June 2022.

KEY THRESHOLD: SMALL BUSINESS INSTANT ASSET WRITE-OFF Instant Asset write-off
SMALL BUSINESS DEPRECIATION — INSTANT ASSET WRITE-OFF THRESHOLD  
Purchase date or date asset first used (or installed ready for use) for a taxable purpose Threshold
From 1 July 2022 $1,000
6 October 2020 7:30 pm (AEDT) to 30 June 2022 No limit
12 March 2020 to 7:30 pm (AEDT) 6 October 2020 (first used/installed by 30 June 2021) $150,000
2 April 2019 7:30 pm (AEDT) to 11 March 2020 $30,000
29 January 2019 to 2 April 2019 7:30 pm (AEDT) $25,000
12 May 2015 7:30 pm (AEST) to 28 January 2019 $20,000
1 January 2014 to 12 May 2015 7:30 pm (AEST) $1,000
From 2012/13 to 31 December 2013 $6,500
Before 2012/13 $1,000

From 1 January 2022 the instant asset write-off will only be available for small businesses with an aggregated turnover of less than $10 million and the threshold will decrease to $1,000.

For more information, click on Instant asset write-off and small business concessions.

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