Category: tax

$150,000.00 Instant Asset Tax Write-off.

September 10, 2020

The Rules Have Changed. Steve Sell  10/09/2020 $150,000.00 Instant Asset Tax Write-off. The government has changed the instant asset tax write-off rules, most businesses can now claim an immediate deduction for the purchase of a business asset in the year the asset is first purchased and used. The Instant Tax Asset Write-off Can be Used For: Each item purchased can be claimed if the cost of each individual asset is less than the relevant threshold....

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Used Car $30k instant asset write-off.

September 17, 2019

$30k instant asset write-off.   Steve sell 17/09/2019 Did you Know?  You can buy a new or used car under the asset write-off  scheme.   There have been changes to the government’s Instant asset write-off scheme. The Federal Government, in the 2019-2020 Budget Announcement, proposed to increase the instant asset write-off threshold from $20,000 to $30,000 for eligible assets. And to apply the benefits to small and medium sized businesses with an annual turnover of up...

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