Reminder EOFY Instant Asset Write-Off

Reminder EOFY Instant Asset Write-Off

Andrew Palmer, 25 June 2020
The Federal Government, as part of its COVID-19 stimulus, has increased the Instant Asset Write-off threshold to $150,000 (up from $30,000) for qualifying businesses.The Government has expanded eligibility to businesses with an aggregated annual turnover of less than $500 million (up from $50 million). At this stage this applies to all assets installed ready to use until 30 June 2020.