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BUYING BUSINESS ASSETS
THIS FINANCIAL YEAR?

$150,000 instant asset write-off
New or Used Business assets

Cut off date: 30 June 2020

What Business assets could be eligible for the instant write off?

  • Work-related vehicles
  • Machinery
  • POS and display equipment
  • Hand Tools
  • Restaurant paging systems
  • Storage & refrigeration
  • WI-Fi or IT infrastructure
  • VoIP Telephone systems
  • Business use TV and Monitors
  • Digital Signage
  • Security upgrades
  • Audio Visual equipment
  • Networking and Data storage
  • Air conditioners
  • Office furniture
  • Shop fittings and Fitouts
  • Kitchen equipment

Changes to Instant Asset write off effective 12 March 2020

From 12 March 2020 until 30 June 2020 the instant asset write-off

  • threshold is $150,000 (up from $30,000)
  • eligibility range covers businesses with an aggregated turnover of less than $500 million (up from $50 million)

The criteria have changed over time so make sure you check whether your business is eligible:

From 1 July 2020 the instant asset write-off will only be available for small businesses with a turnover of less than $1 million and the threshold will be $1,000.

Businesses with a turnover of $500 million or more are not eligible to use instant asset write-off.

Excluded assets

You must use the general depreciation rules for the following depreciating assets – as they are specifically excluded from the simplified depreciation rules:

$150,000 INSTANT ASSET WRITE-OFF!

on New or Used
Business assets?

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Copyright 2018 Commercial Finance Corporation Pty Ltd . All rights reserved.
Commercial Finance Corporation Pty Ltd ABN 21 059 622 356

 

Any Rates or terms displayed on this website are subject to standard Credit criteria and conditions. 
All rates are indicative only and subject to change at any time. Fee and charges will apply.
ACL 394741 , AFCA 45092

 

BUYING BUSINESS ASSETS
THIS FINANCIAL YEAR?


$150,000 instant asset write-off
New or Used Business assets

What Business assets could be eligible of the instant write off?

  • Work related vehicles
  • Machinery
  • POS and display equipment
  • Hand Tools
  • Websites
  • Restaurant paging systems
  • Storage & refrigeration
  • WI Fi or IT infrastructure
  • VoIP Telephone systems
  • Business use TV and Monitors
  • Digital Signage
  • Security upgrades
  • Audio Visual equipment
  • Networking and Data storage
  • Air conditioners
  • Office furniture
  • Shop fittings and Fitouts
  • Kitchen equipment

Changes to Instant Asset write off effective 12 March 2020

From 12 March 2020 until 30 June 2020 the instant asset write-off

  • threshold is $150,000 (up from $30,000)
  • eligibility range covers businesses with an aggregated turnover of less than $500 million (up from $50 million)

The criteria have changed over time so make sure you check whether your business is eligible:

Small businesses with a turnover of less than $10 million

Medium businesses with a turnover from $10 million to less than $50 million

Medium and large businesses with a turnover from $50 million to less than $500 million

From 1 July 2020 the instant asset write-off will only be available for small businesses with a turnover of less than $1 million and the threshold will be $1,000.

Businesses with a turnover of $500 million or more are not eligible to use instant asset write-off.

Excluded assets

You must use the general depreciation rules for the following depreciating assets – as they are specifically excluded from the simplified depreciation rules:

assets that are leased out, or expected to be leased out, for more than 50% of the time on a depreciating asset lease

assets you allocated to a low-value assets (pool) before using the simplified depreciation rules

horticultural plants including grapevines

software allocated to a software development pool (but not other software)

capital works deductions. 

Copyright 2018 Commercial Finance
Corporation Pty Ltd .  All rights reserved.
Commercial Finance Corporation Pty Ltd
ABN 21 059 622 356

 

Australian Credit Licence 394741

 

Disclaimer- All applications are subject to the Lenders approval and discretion. Rates on offer may change at any time, fees and charges will apply. All Self-Declared loans are only for registered ABN holders. Fees and Conditions will apply