Small Business Simplified Depreciation Rules | $20k Instant Tax Write-off
Small businesses can elect to apply the simplified depreciation rules. To determine whether you are a small business, the following criteria needs to be met:
The following rules apply under the small business simplified depreciation regime:
In the Budget 2017, the government announced an extension of the $20,000 instant asset write-off threshold to 30 June 2018. This extension still needs to be passed in parliament – the threshold currently reduces to $1,000 from 1 July 2017.