$20,000 instant asset write-off for small business extended to 30 June 2025 The Government will extend the instant asset write-off concession for small businesses for another 12 months. This will allow small businesses with turnovers capped at $10 million to immediately deduct the full cost of eligible depreciating assets costing less than $20,000 that are […]
Remember temporary expensing, which allowed just about every business (unless annual turnover was at least $5 billion) to immediately write off the cost of an eligible depreciating asset? Well, that is no longer available. To use temporary full expensing, you had to acquire and use, or install ready for use, an eligible depreciating business asset […]
Tax-related business measures Cash flow boost payments: Tax-free payments of up to $100,000 are available for eligible small and medium sized entities and not-for-profits (including charities) that employ people, with a minimum payment of $20,000. Instant asset write-off: From 12 March to 30 June 2020, the threshold increases to $150,000 for business entities with aggregated […]