Instant write-off

With agriculture considered an essential service during the Covid-19 outbreak, a revamped government stimulus package could mean now is the perfect time to upgrade your fleet and equipment.

The Federal Government has increased the threshold for instant asset tax write-offs from the normal $30,000 to $150,000, for businesses with an aggregated turnover of less than $500 million – up from the normal $50 million.

The changes mean eligible Australian businesses can write off the cost of assets priced under the threshold