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Date: 16 Apr 2019
Category: ABA

Write-Off Threshold Changes

ABA Tech Talk

Write-Off Threshold Changes
 
Following new legislation that has just been passed, can you list all of the different 2018/2019 thresholds and rates that now apply to what was the Small Business Instant Asset Write-Off that clients may be eligible for if they purchase depreciable items?
 
These are:
 
1. $20,000 threshold for depreciable assets that are acquired and installed ready for use from 1 July 2018 to before 29 January 2019 (only available for businesses with an aggregated turnover less than $10 million).
 
2. $25,000 threshold for assets first used or installed between 29 January 2019 and 2 April 2019 (only available for businesses with an aggregated turnover less than $10 million).
 
3. $30,000 threshold for assets first used and installed after the 2 April Budget announcement and before 1 July 2020 (available for businesses with a turnover of less than $50 million).

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