May 17, 2023
The good news is from July 1st the instant asset write-off threshold will sit at $20,000. That means businesses with an annual turnover of $10M or less will be able to deduct the entire cost of assets that cost less than $20,000. The assets must be installed or ready for use between 1 July 2023 & 30 June 2024. Now is the time to purchase new kitchen equipment, coffee machines, iPads and technology tablets under the new scheme for your business!