Thinking of purchasing assets for your business?

The instant asset write-off threshold has been increased to $150,000 (up from $30,000) to 31 December 2020 for businesses with an aggregated turnover of less than $500 million.

From 1 January 2021 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.