In October 2020 the federal budget announced key changes to the instant asset write-off scheme to support more businesses during COVID-19. To stimulate the economy and help businesses across Australia, the instant asset write-off measure is now available to all Australian businesses with up to $5 billion in annual turnover. This means 99% of businesses, or approximately 3.5 million businesses nationwide, will be eligible to claim under this scheme.
This Instant Asset Write-Off report outlines key changes, including what can be claimed and how your business can take advantage of the scheme.
