Instant asset write-off for eligible businesses

Under instant asset write-off eligible businesses can: - immediately write off the cost of each asset that costs less than the threshold - claim a tax deduction for the business portion of the purchase cost in the year the asset is first used or installed ready for use. Instant asset write-off can be used for both new and second-hand assets. Some exclusions and limits apply. The instant asset write-off eligibility criteria and threshold have changed over time. You need to check your business's eligibility and apply the correct threshold amount.

For further information visit https://www.ato.gov.au/Business/Depreciation-and-capital-expenses-and-allowances/Simpler-depreciation-for-small-business/Instant-asset-write-off/

4 views0 comments

Recent Posts

See All