A QUICK FACT SHEET

BOTH of the initiatives shown below are available to ALL Australian businesses with an annual turnover of less than $500million

50% Instant Depreciation Write Off (on assets over $150,000)

1. Any eligible asset (vehicles, machinery etc) with a purchase price GREATER THAN $150,000 (excluding GST) acquired from March 12th to June 30th 2021
2. Assets MUST be NEW (NOT USED)
3. There is NO LIMIT to the number of assets acquired under this initiative
4. Assets can be purchased outright or financed on Chattel Mortgage or CHP (Finance Lease will not work for this initiative)
5. FAST TRACK (Replacement Policy) Finance is available on many of these larger assets across a broad range of Financiers
6. This initiative is available for 15 months (until June 30 2021)
7. This extended initiative will also be applicable to assets of $150,000 or less for an extra year once the $150,000 Instant Asset Write Off has expired on June 30 2020.

$150,000 Instant Asset Write Off (now extended to December 31^st 2020)

1. Any eligible asset (vehicles, machinery etc) with a purchase price of $150,000 or less (excluding GST) acquired from March 12th to June 30th 2020, which has now been extended to December 31^st 2020
2. Asset can be NEW or USED (including Private Sales)
3. The $150,000 limit is available for each individual asset and therefore multiple assets (totalling more than $150,000) can be claimed under this arrangement
4. There is NO LIMIT to the number of assets acquired under this initiative
5. Assets can be purchased outright or financed on Chattel Mortgage or CHP (Finance Lease will not work for this initiative)

If you would like to know more, the Government Fact sheet links below provide an excellent explanation with many clear examples:

Delivering support for business investment

Extending the instant asset write-off

“This is for information only, please consult your financial advisor or accountant before proceeding, to make sure this is the right decision for your business. “

1st July 2020