RECENT ATO CHANGES
INSTANT ASSET WRITE-OFF
From 7.30pm AEDT on 6 October 2020 until 30 June 2022, temporary full expensing allows a deduction for:
the business portion of the cost of new eligible depreciating assets for businesses with an aggregated turnover under $5 billion or for corporate tax entities that satisfy the alternative test
the business portion of the cost of eligible second-hand assets for businesses with an aggregated turnover under $50 million
the balance of a small business pool at the end of each income year in this period for businesses with an aggregated turnover under $10 million.