INSTANT ASSET WRITE-OFF
The Federal Government's $150,000 Instant Asset Write-Off is available Now till 30 June 2020
The Government has increased the IAWO from $30,000 up to a massive $150,000 for any eligible assets purchased between 12th March to 30 June 2020.
What is an Eligible Asset?
Any asset New or Old that you purchase for your Business costing less than $150,000, but it must be installed and ready for use by 30 June 2020. This means that if you buy a commercial vehicle it must be registered and on the road by 30 June 2020.
At this stage the incentive will revert back to the original amount of just $1,000 on 1 July 2020 so you need to move quick if you want to take advantage of this.
What if you buy an asset greater than $150,000 ?
Then you can apply the Accelerated Depreciation rules and get 50% of the Asset Cost + 15% Pooling Depreciation as well, so that's a massive 65% of the cost of the asset in the first year.
Call one of our Team Today to discuss if this is right for your business on