The Time Is Now
With the government announcing that the instant asset write-off has lifted from $30k to $150k, what farm equipment now qualifies?
$150K INSTANT ASSET WRITE OFF
The instant asset write-off threshold has been increased from $30,000 to $150,000 and expanded access to include businesses with aggregated annual turnover of less than $500 million (up from $50 million).
This applies from 12 March 2020 until 30 June 2020, for new or second‑hand assets first used or installed ready for use in this timeframe.