The government is loosening the criteria around the instant asset write-off. Pre-Coronavirus, businesses with a turnover of up to $50 million could instantly write-off the purchase of assets costing up to $30,000. Post-Coronavirus, businesses with a turnover of up to $500 million can write off asset purchases of up to $150,000.
Contact the Centaur Financial team if you would like assistance in determining your eligibility for these initiatives or if you have any other questions we can assist with.
As always, if you would like to discuss the contents of this newsletter please give us a call 07 5559 5760.