If your business has a turnover of less than $10 million it can write off assets costing less than $20,000 each (exclusive of GST).
Remember that the entire cost of the asset must be less than the instant asset write-off threshold, irrespective of any trade-in amount.
In working out the amount you can claim, you must subtract any private use proportion. While only the taxable purpose proportion is deductible, the entire cost of the asset must be less than the threshold.
For further information, contact us.
