From 2 April 2019, the instant asset write-off has also been expanded to include businesses with a turnover from $10 million to less than $50 million.

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

Thinking of purchasing assets for your business?

The instant asset write-off threshold has been increased to $30,000 and extended to 30 June 2020.

If you purchase an asset (new or second hand) costing less than $30,000 and it is used or installed ready for use from 7:30 pm AEDT on 2 April 2019, you can claim a deduction for the business portion.

Different thresholds apply for assets purchased. 
Click here for more information.

Assets that cost $30,000 each or more can’t be immediately deducted.  You can continue to deduct them over time using the small business pool.