$20,000 Instant Asset Write-Off gets a short re-boot

Small businesses with turnover less than $10M can breathe easy, with the $20,000 Instant Asset Write-Off being formally extended to the current financial year, ending 30 June 2024.

“Medium Businesses” (turnover $10M-$50M) will likely get a cap of $30,000, subject to the House of Reps passing amendments initiated in the Senate.