Instant Asset Write-off Extension - Act now and take advantage of the new $150,000 threshold through June 30, 2023
The Australian Taxation Office has announced that it will be extending the Instant Asset Write Off until 30 June 2023.
The Instant Asset Write Off threshold has been increased to $150,000 (a 5x increase) for businesses. The program is now available to businesses with an aggregated turnover of less than $500 million (a 10x increase over previous years) and applies to both new and second-hand eligible assets.
*Terms and conditions apply. Purchasers may be eligible for the ATO instant asset write-off. Visit ato.gov.au or consult your accountant or tax advisor for further information.