The revenue threshold for accessing the $30,000 write-off has been raised from $10 million to $50 million, and it can be used multiple times for multiple assets.
The instant asset write-off threshold for businesses with combined turnover of less than $10m will be increased from $25,000 to $30,000 for eligible assets that are first used, or installed ready for use, from 7.30 pm (AEDT) on 2 April 2019 to 30 June 2020.
Medium sized businesses with a combined turnover of $10m or more but less than $50m will now also be able to immediately deduct purchases of eligible assets costing less than $30,000 that are first used, or installed ready for use, from 7.30 pm (AEDT) on 2 April 2019 to 30 June 2020.
It would be ideal if the above was made permanent, but… you can’t have everything.
Feel free to contact us if you have any queries.