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.
Status OPEN
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.
