The instant asset write-off threshold of $30,000 has been extended to 30 June 2020.

Business with a turnover less than $50 million can claim a tax deduction of up to $30,000 for the business portion of each asset (new or second hand), purchased and first used or installed ready for use from 7.30pm (AEDT) on 2 April 2019 until 30 June 2020.

NB: The GST exclusive cost of the asset must be less than $30,000 in order to claim an instant asset write-off.