There have been recent changes to the active asset immediate write off threshold as follows:
- Tier 1 – $20,000 for depreciable assets acquired before 29 January 2019
- Tier 2 – $25,000 for assets first used or installed between 29 January 2019 and 2 April 2019
- Tier 3 – $30,000 for assets first used and installed after the 2 April 2019 budget announcement and before 1 July 2020
Eligibility has been expanded to include businesses with a turnover of less than $50 million. We recommend you seek advice from your tax adviser before purchasing a new asset to check your eligibility.
