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.

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