$150,000 Instant asset write-off for eligible businesses

The $150,000 Instant Asset Write-Off provides businesses with an asset write-off. Assets must cost less than the instant asset write-off threshold and be purchased and used in the year that the write-off is claimed.

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What do you get?

An asset write-off of up to $150,000.

Who is this for?
Eligible businesses.

OVERVIEW:
The $150,000 Instant Asset Write-Off provides businesses with an asset write-off of up to $150,000 for assets costing less than the instant asset write-off threshold which are purchased and used in the year that the write-off is claimed.

What are the eligibility criteria?

To be eligible, you must:

– have an aggregated turnover of less than $500 million
Assets must:

– cost less than the instant asset write-off threshold
be purchased and used in the year the write-off is claimed

How do you apply?
There is no application required. The write-off is applied when you lodge your tax for the relevant year.

Find out more about eligibility and how to apply at Instant Asset Write-Off- external site.

https://www.ato.gov.au/uploadedFiles/Content/SME/downloads/Interaction_of_tax_depreciation_incentives.pdf

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