In response to COVID-19, the Australian government increased the instant asset write-off to $150,000 until 31st December 2020
- The installation date of assets purchased by 31st December 2020 was extended until 30th June 2021.
- This incentive has now been replaced by Temporary Full Expensing.
**Disclaimer**Please note that this advice is general only. Speak to a qualified accountant to find out how this would apply to your business.
Article updated May 2021