Skip to main content
site map
our facebook page youtubeinstagram


Wednesday, September 30 2020

The COVID-19 Coronavirus Economic Stimulus Package Has Broadened The Range Of Equipment Eligible For The Instant Asset Write-off

June Update: The $150k Instant Asset Write Off has now been extended until 31 December 2020. See below for details.

– In light of the COVID-19 Coronavirus, changes have now been made to the Instant Asset Write-off. Australian businesses can claim an immediate deduction for assets they purchase, including new and used equipment, where the cost is less than $150,000 ex. GST ($165,000 inc. GST), subject to business use. The previous threshold for this incentive was $30,000 ex. GST ($33,000 inc. GST).

This change makes the incentive applicable to an even wider range of equipment options – such as Tractors – being eligible for immediate deduction. This change applies from 12 March 2020, and was originally set to end 30 June 2020. On 9 June, however, the Government announced a six month extension until 31 December 2020.

Additionally, the instant asset write-off can now be claimed by businesses with an aggregated annual turnover of less than $500 million, up from the previous $50 million threshold.

Posted by: AT 11:31 am   |  Permalink   |  0 Comments  |  Email

Post comment
Email Address

(max 750 characters)
* Required Fields
Note: All comments are subject to approval. Your comment will not appear until it has been approved.

E:  |  P: (07) 5462 1888  |  M: 0432764542  |  F: (07) 5462 5300  | A: 1 Western Drive Gatton QLD 4343

Copyright © 2017Lockyer Farm Machinery. All Rights Reserved. Web Design by SiteFresh

Copyright 2017 Husqvarna AB. All Rights Reserved. Husqvarna. Automower and other product and feature marks are trademarks of the Husqvarna Group