Instant Asset Write Off 2023
The Instant Asset Write-Off will replace Temporary Full Expensing on 1st July 2023.
ATO says: Small businesses will be able to immediately deduct the full cost of eligible assets costing less than $20,000 that are first used or installed ready for use between 1 July 2023 and 30 June 2024.
Ask your tax agent to explain how to apply the rules to your situation, they are the only people who can legally advise you about tax deductions. And speak to them before you commit yourself and your business to large expenses.
June 27, 2023
