The Australian Government is delivering tax reforms for Australian businesses. The reforms deliver tax relief for more than 3 million small and medium businesses.

Immediate deductions up to $20,000

The $20,000 instant asset write-off has been extended to 30 June 2019

This means you can continue to claim the cost of new or second-hand assets that are less than the threshold of $20,000. What does it mean for your business?

If your business has a turnover of less than $10 million, you can instantly claim the business portion of most depreciating assets that cost less than $20,000 each.

You can claim the deduction through your tax return, in the year the asset was first bought and used or installed ready for use.

Assets of $20,000 or more can be put into a small business asset pool where you can claim a proportion of the amount as a deduction each year.

Learn more about the instant asset write-off

source: https://smallbusiness.jobs.gov.au/tax-measures