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The Higher Instant Asset Write-Off (IAWO) Threshold

The Higher Instant Asset Write-Off (IAWO) Threshold

Aim

Assist business purchase new equipment and decrease tax payable

Benefits

The IAWO has increased from $30,000 to $150,000 and increased eligible businesses with a turnover of under $500m (previously $50m)

Eligibility


Businesses with a turnover under $500m which will benefit an additional 5,300 businesses and 1.9m Australians.

Applying

Proposal applies from 12 March 2020 until 30 June 2020 for new or second-hand assets first used or installed ready for use in this timeframe.

Businesses will need to wait until the new laws are passed in Parliament which is expected before 28 March 2020.

If you need assistance, please reach out to our friendly accountants on 1300 865 199 or if you would like us to give you a call, Book in your 30 minute consultation for $50 to get the answers you need today.

Sidney Cachuela

Sidney Cachuela

Sidney Cachuela is a Business Mentor and Associate Financial Advisor who genuinely revels in solving the sorts of wicked problems facing business. His experience includes working with high profile wealth managers and financial advisers, including managing $100m of client FUM across 200 clients. In 2018 he co-founder POP Business, a cloud-based accounting firm. Sidney is a complete technophile, and believes that innovation and new tech are the way forward. POP Business is his labour of love. He has expertise in helping small businesses with a range of accounting services, including: financial advice, accounting and bookkeeping, GST tax planning, as well as company, trust and partnership tax returns and more.

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