07 Feb 2019 Increase and extension to instant asset write-off for small businesses
On 29 January 2019, Prime Minister announced in his first economic speech this year, the instant asset write-off scheme will be available to small businesses until 30 June 2020 for assets purchased under $25,000 in value.
The Australian Small Business and Family Enterprise Ombudsman, Kate Carnell welcomed the extension of the scheme as well as the increase to the threshold in the announcement by the Prime Minister.
“The scheme allows small businesses to immediately deduct assets costing less than $25,000 instead of claiming deductions over a number of years and there is no limit on how many assets can be claimed.”
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