The Government has both increased & extended instant asset write-off.

Recently the threshold has been increased from $25,000 to $30,000 and the claim date has been extended to 30 June 2020.

In addition to this, the instant asset write-off now includes businesses with an annual turnover of up to $50 million, a significant improvement on the previous qualification of businesses only up to $10 million.

So what does this mean to me?

As a qualified business, you can claim a deduction of up to $30,000 for the business portion of each asset purchased, first used, or installed from 02 April 2019, until 30 June 2020.

Click here to view further details from the ATO