16 Mar, 2020
The Australian Instant Asset Write-Off has been increased from $30,000 to $150,000 and is valid from now until June 30, 2020!
The higher IAWO threshold provides cash flow benefits for businesses that will be able to immediately deduct purchases of eligible assets each costing less than $150,000. The threshold applies on a per asset basis, so eligible businesses can immediately write‑off multiple assets.
The IAWO is due to revert to $1,000 for small businesses (turnover less than $10 million) from 1 July 2020, meaning that now is the perfect time to invest in a machine and expand your business capability.