Instant Asset Deduction Increased – Federal Government Economic Stimulus Package

From 12th March 2020 the Federal Government’s Economic Stimulus Package has increased the immediate write off of eligible assets from $30,000 to $150,000 (new or used) purchased by 31 December 2020 by businesses with a annual turnover of under $500M.  From 1 Jan 2021 the rules for instant asset deduction thresholds fall to $1,000 and the eligibility applies only for small business with turnovers under $10M. For more details on this measure go to the Government website at—rules-and-calculations/?page=4

Other Federal Government Economic Stimulus Package measures can be found at

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