The ATO has announced that from the 12th March till the 30th June:
With the specified instant asset write-off eligible Australian business can:
immediately write off the full cost of each business asset with a cost less than the announced 150,000 instant asset write off treshold
claim a tax deduction for the business portion of the purchase cost in the year the asset is first used or installed ready for use.
ThisInstant asset write-off is not only accepted for new assets. Also second hand business machinery and assets can apply. As Some exclusions and limits apply please make sure you check with mhf finance or your accountant or financial advisor to make sure you can use this tax advantage for your purchase.
The instant asset write-off eligibility criteria and threshold have changed over time. You need to check your business’s eligibility and apply the correct threshold amount.
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