Further extensions for Instant Asset Write-Off

The Instant Asset Write-Off Scheme has been extended to 30 June 2020 for assets purchased under $30,000. The scheme affects small to medium businesses with a turnover of up to $50 million a year, allowing business owners to immediately deduct assets costing up to $30,000 which can then be claimed for tax in that income year. The new rules will apply from 2 April 2019 and are set to remain in place until 30 June 2020.

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