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50k instant tax write off mowers

INSTANT ASSET WRITE-OFF INCREASED TO $150,000


The instant asset write-off threshold has been increased from $30,000 to $150,000 and expanded access to include businesses with aggregated annual turnover of less than $500 million (up from $50 million).

* This applies from 12 March 2020 until 30 June 2020, for new or second‑hand assets first used or installed ready for use in this timeframe.

The purchases of eligible assets costing less than $150,000 each, will now be able to be immediately deducted.  It applies on a per asset basis, so eligible businesses can immediately write-off multiple assets.

Please check with your accountant or financial advisor as to your eligibility to claim the instant asset write-off.

Get the machines you need NOW for your business and write it off instantly!

Government links for more information:

https://www.business.gov.au/risk-management/emergency-management/coronavirus-information-and-support-for-business/instant-asset-write-off

https://www.ato.gov.au/Business/Depreciation-and-capital-expenses-and-allowances/Simpler-depreciation-for-small-business/Instant-asset-write-off/