Instant asset write-off extended

On Tuesday, 9 June, the Federal Treasurer and the Minister for Employment, Skills, Small and Family Businesses announced the extension of the instant asset write-off scheme for 6 months until 31 December 2020. The $150,000 instant asset write-off will provides support for business investment, however, come January 2021 the threshold will revert back to $1,000. In their upcoming submission to the October 2020 Budget, ACCI will be arguing for the instant asset write-off to be made permanent. More