Extended! $150,000 Instant Asset Tax Write-Off

News, Extended Instant Asset Write Off at PR Power Australia

Boost your business and claim $150,000 for each asset*


The Australian Federal Government has extended the $150,000 Instant Asset Tax Write-off to end on December 31st 2020

How the 2020 instant asset tax write-off works >

12th March to 31st December 2020

  • threshold amount for each asset is $150,000
  • eligibility has been expanded to cover businesses with an aggregated turnover of less than $500 million

From 1st January 2021

  • reverts to small businesses with a turnover of less than $10 million and the threshold reverts to $1,000
  • handy article here >

Extended Instant Asset Write Off Diesel Generator For SaleThe time is now, use the instant asset write-off to boost your business

  1. Conduct a review of your business
  2. Highlight areas that could be benefited with the tax break
  3. Contact your tax professional
  4. Create a ‘shopping list’
  5. Make your purchase and claim*

 

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Instant Asset Write-off extended PR Power lighting towers for sale

Disclaimer: This article is provided for information purposes only and is correct at the time of publication. It should not be used in place of advice from your accountant. Information has been sourced from the Australian Taxation office via their website https://www.ato.gov.au/Business/Depreciation-and-capital-expenses-and-allowances/Simpler-depreciation-for-small-business/Instant-asset-write-off/. We suggest to speak to your tax professional for further advice specific to your individual business needs.