Access Tax and Accounting – Bankstown Tax Blog

The ATO has just announced that the $20,000 threshold has been extended to 30 June 2019. If you buy an asset and it costs less than $20,000, you can write off the business portion in your tax return for the relevant income year. You are eligible to use simplified depreciation rules and claim an immediate deduction for the business portion of each asset (new or second hand) costing less than $20,000 if: you had a turnover less