The following information was sourced from the Australian Taxation Office website and can be read in full here.
Looking to expand or improve your business and thinking of buying new or secondhand assets? Changes to the instant asset write-off means businesses with a turnover from $10 million to $50 million are now eligible. Small businesses with a turnover up to $10 million are also eligible for the instant write off of $30,000. This applies to to assets purchased and first used or installed ready for use up to $30,000 each from 7.30pm on 2 April 2019 to 30 June 2020.