SUPPORT FOR BUSINESS INVESTMENT
The following measures have been designed to assist Australian businesses and economic growth in the short term:
INCREASING THE INSTANT ASSET WRITE-OFF
- Threshold increased from $30,000 to $150,000
- For businesses with aggregated turnover of less than $500 million
- The $150,000 threshold applies on a per asset basis so eligible businesses can immediately write-off multiple assets
- Applies for new or second-hand assets first used or installed ready for use by 30 June 2020.