13 July 2020
You may be able to claim an accelerated depreciation deduction in your 2020 income tax return. If the assets are eligible, there's no limit to the:
Eligible depreciating assets must be:
If you claimed the instant asset write-off for an asset, you can't claim accelerated depreciation.
To help you get your claim right:
Remember, registered tax professionals can help you with your tax.
Related news items
Make sure you know the threshold amounts that apply.
The $150,000 instant asset write-off threshold has been extended to 31 December.