Don’t forget the government’s 2018-19 Federal Budget announcement for asset write off 2019 has been increased to $30,000 and expanded to businesses with a turnover of up to $50 million.^

This means eligible businesses^:
1. with a turnover of up to $50 million, will be able to write-off the asset value of new and used equipment costing $30,000 or less, if it is acquired and installed for use from 2 April 2019 and 30 June 2020. Effective immediately and includes businesses with a turnover of up to $50 million.

2. with turnover of $10 million, will be able to write-off the asset value of new and used equipment costing $25,000 or less, if it was acquired and installed for use between 29 January and 1 April 2019.*

*Yet to be legislated.

3. with turnover of $10 million, will be able to write-off the asset value of new and used equipment costing $20,000 or less, if it was acquired and installed for use between 1 July 2016 and 29 January 2019.

More information…

For further details, please contact a Loanbrite broker today:

This blog post has been prepared without taking into account any individual objectives, financial situation or needs.

^The taxation position described is a general statement and should only be used as a guide. It does not constitute tax advice and is based on current tax laws and their interpretation. Customers must seek their own independent tax advice in relation to their individual circumstances. Equipment Finance is offered by Loanbrite. No member of Loanbrite or any of their employees or directors gives any warranty of accuracy or reliability nor accepts any liability in any other way, including by reason of negligence for any errors or omissions contained herein, to the extent permitted by law.