phone icon Get a Quote Dollar Icon Book a Service Spanner Icon Specials Discount Tag Icon Search our Stock Icon Search our Stock Icon location marker icon location marker icon location marker icon for Locate a Dealer Icon arrow down icon of Facebook logo icon of Twitter logo icon of YouTube logo icon of LinkedIn logo icon of Google+ logo Icon of Instagram Logo icon of Pintarest logo Question Mark in a Circle Icon Download a Brochure Icon Book a Test Drive steering wheel Icon icon of Share logo View Right Arrow Icon of Left Arrow Icon of Double Left Arrow Icon of Right Arrow Calculator Icon Calculator Icon Icon of 3 Horizontal Lines Icon of a 4 square Quandrant Icon of a car Hand Offering Cash Icon Envelope Icon List Symbol of Lines and Dots Icon Calculator Icon Icon of two cars from the front Icon of square speech bubble with dollar symbol Book a Test Drive steering wheel Icon Get a Quote Dollar Icon Icon of a magnifying Glass Icon of a Dollar Symbol Video Click to Start Icon Printer Icon Close Button X Close Button Circle X Icon of 3.5 star rating Icon of 4 star rating Icon of Empty Star Outline Icon of Filled Star Icon of Half Filled Star Icon of Specials Tag and Star Icon of a Left Arrow for a Carousel Icon of a Right Arrow for a Carousel Icon of a Add to Compare Clock Speed Clock Speed Clock Speed Clock Speed Icon of a truck Icon of a machinery Icon of a skis Icon of a bike Powered by I-Motor - link to I-Motor website Icon of Arrow Pointing Left Icon of Home Used on Error Pages Icon of Llewellyn Motors Finance

Special Offers


Buy a New Car or Used Car and claim up to $9,000 tax back with the updated $30K Tax Write-Off!

On purchases up to June 30th 2020. Conditions apply.

<br>Buy a New Car or Used Car and claim up to $9,000 tax back with the updated $30K Tax Write-Off! </br> Small Image

BUSINESS TAXATION –
INSTANT ASSET WRITE OFF

Instant asset write-off extended to more taxpayers; threshold increased.

Search Our Stock

The budget contains important changes to the instant asset write off rules, in addition to the measures contained in a bill currently before parliament.


First, the write-off has been extended to medium sized businesses, where it previously only applied to small sized entities.

The second important change is that the instant asset write-off threshold is to increase from $25,000 to $30,000. The threshold applies on a per-asset basis, so eligible businesses can instantly write off multiple assets.

The threshold increase will apply from 2nd April 2019 to 30th June 2020.

Small Businesses.

Small business entities (i.e. those with aggregated annual turnover of less than $10 million) will be able to immediately deduct purchases of eligible assets costing less than $30,000 and first used, or installed ready for use, from 2nd April 2019 to 30th June 2020.

Medium Sized Businesses.

Medium sized businesses (i.e. those with aggregated annual turnover of $10 million or more, but less than $50 million) will also be able to immediately deduct purchases of eligible assets costing less than $30,000 and first used, or installed ready for use, from 2nd April 2019 to 30th June 2020.

The asset purchase date is critical. The concession will only apply to assets acquired after 2nd April 2019 by medium sized businesses (as they have previously not had access to the instant asset write-off) up to 30th June 2020.

CLICK HERE TO SEE ELIGIBLE STOCK

Important: This is not advice. Clients should not act solely on the basis of the material contained within this bulletin. We recommend formal advice be sought by clients before acting in any of these areas.