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  • Government Tax Incentive
 

Government Tax Incentive

Government Tax Incentive

by marketing / Monday, 18 May 2020 / Published in News

DON’T DELAY YOUR NEXT EQUIPMENT PURCHASE

Government $150,000 Instant Asset Write-Off

$150,000 Instant Asset Write-Off

Eligible assets will be able to be written off for this financial year meaning that you will pay less in tax. Any new or used equipment with a purchase price of up to $150,000 (exc GST) purchased and installed* between 12 March and 30 June 2020 will be eligible. There is no limit to the number of assets purchased that can be written off under this program. You can purchase multiple assets which total more than $150,000 so long as each individual asset is less than $150,000. Businesses with an aggregated annual turnover of less than $500 million will be eligible until 30 June 2020.

Short term opportunity offered by the Government

From 1 July 2020, this offer will no longer be available and the instant asset write off will return to the normal amount of only $1,000 for businesses with a turnover of less than $10 million.

50% Instant Depreciation

Eligible assets purchased and installed from 12 March 2020 and 30 June 2021 will be eligible for a 50% instant depreciation. Businesses with an aggregated annual turnover of less than $500 million will be eligible until 30 June 2021. New assets only. This incentive is available for 15 months.

 

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SYDNEY, NSW2000
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