The “Accelerated Depreciation” threshold of $20,000.00 will end after midnight June 30, 2018. This now is due to revert to $1,000 from 1 July 2018.
Small businesses (with aggregated turnover of less than $10 million) will be able to immediately deduct purchases of eligible assets up to $20,000 first used or installed ready for use by 30 June 2018.
Assets costing more than $20,000 can be placed in a simplified depreciation pool, to be depreciated at 15% in the first year and 30% in subsequent years.
Criteria to meet include:
Need more information, please contact our office.
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