Immediate asset write-off bill passes parliament. The bill to extend the higher threshold for the immediate asset write-off for small businesses has passed both houses of parliament. The bill implements the government’s proposal from the 2018 federal Budget. Small businesses will be able to immediately write-off assets that cost less than $20,000 if they are purchased and installed before June 30, 2019. From July 1, 2019, the threshold will return to $1000.
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