![]() If legislated, businesses can claim assets “first used or installed ready to use” between January 29 to budget night under the $25,000 cap and then claim assets under the $30,000 cap from budget night to June 30 2020. In January the government announced an extension to the write-off which saw the headline threshold increase from $20,000 to $25,000, although it is yet to lock this in with legislation. In opting to pitch an enhancement of the write-off, the government has again baulked at calls to make the scheme permanent, announcing no further extension past the previously announced Jcut-off. “Already more than 250,000 businesses have taken up the instant asset write-off, and now, even more will have the chance to do so,” Frydenberg said in his budget speech. ![]() This extension would make about 22,000 additional businesses eligible for the program, Frydenberg said on Tuesday night. You'll also receive messages on behalf of our partners.
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