COVID-19: Instant asset write-off extended to 31 December 2020
The government will extend the $150,000 instant asset write-off for six months to 31 December 2020.
Australian businesses with annual turnover of less than $500 million will be able to take advantage of this extended time frame to invest in assets to support their business as the economy reopens and coronavirus health restrictions continue to ease. Legislative changes will be made to give effect to this measure.
Source: CPA Australia
Date: 11 June 2020
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