Small businesses, with an aggregated turnover of less than $10m, are eligible to this instant asset write-off. The Government is extending the instant asset write-off for assets costing less than $20,000 until 30 June 2024.

Note, this legislation is in parliament but not yet law.

Disclaimer

The information provided in this article does not constitute advice. The information is of a general nature only and does not take into account your individual financial situation. It should not be used, relied upon, or treated as a substitute for specific professional advice. We recommend that you contact Brentnalls SA before making any decision to discuss your particular requirements or circumstances.