Increase to Instant Asset Write-off

Increase To Instant Asset Write Off

#smallbusiness #tax #solveadvisory

On 29 January 2019, the Prime Minister announced that the government will introduce legislation to increase the $20,000 instant asset write-off threshold to $25,000 from 29 January 2019 until 30 June 2020.

While this proposal is not yet law, given the Federal election is around the corner you can bet that the legislation is not far away.

The current Law allows for eligible small business to write-off in full the value of eligible assets where the total cost is less than $20,000 purchased prior to 30 June 2019.

Contact us to discuss whether you are eligible and ensure you receive the benefit.

More details on the changes are here.

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