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Businesses get another six months to write off assets

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The Morrison government has extended the instant asset write-off by another six months to December at an expected cost of $300 million in an effort to prevent a further crash in business investment.  The instant asset write-off scheme provides immediate tax deductions for small and medium-sized businesses on certain expenditure allowing such businesses to pay […]

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How to Use the Extended Instant Asset Write-off in Your Business

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The Australian Government has announced an increase in the instant asset write-off from $30,000 to $150,000 in response to the economic impact of the coronavirus. The increased limit is in effect until 30 June 2020. Amid novel coronavirus (COVID-2019), this is likely to be welcome news for many Australian SMEs. In 2017-18, there were more […]