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The Prime Minister and Treasurer have announced a proposed increase in the instant asset writeoff threshold from $30,000 to $150,000 from 12 March 2020 to 30 June 2020: https://www.pm.gov.au/media/economic-stimulus-package.
The Government is expediting the passage of the required legislative amendments through Parliament.
Keep in mind that the car depreciation limit of $57,581 (for 2019-20) still applies: https://www.ato.gov.au/Business/Dep...tions/?page=3#Car_cost_limit_for_depreciation.
The car depreciation limit also limits GST credits: https://www.ato.gov.au/Business/GST...-and-transport/GST-and-motor-vehicles/?page=2.
See also https://uberpeople.net/threads/econ...t-by-the-prime-minister-and-treasurer.384802/.
The Government is expediting the passage of the required legislative amendments through Parliament.
Keep in mind that the car depreciation limit of $57,581 (for 2019-20) still applies: https://www.ato.gov.au/Business/Dep...tions/?page=3#Car_cost_limit_for_depreciation.
The car depreciation limit also limits GST credits: https://www.ato.gov.au/Business/GST...-and-transport/GST-and-motor-vehicles/?page=2.
See also https://uberpeople.net/threads/econ...t-by-the-prime-minister-and-treasurer.384802/.
