The Instant Asset Write-off Threshold Is Increased to $150,000 through 31 December 2020
Crown Equipment is here to help you with your material handling product acquisition.
If you need to replace, upgrade or require additional material handling equipment for your business operations, Crown has an extensive range of new and premium-quality refurbished electric, diesel or gas counterbalance forklifts, reach trucks, stackers, pallet movers, order pickers and Work Assist Vehicles® available and ready to go on short notice.
Your business may benefit from additional cash flow by using the instant asset write-off to deduct purchases of eligible assets each costing less than $150,000. The higher threshold applies to assets first used or installed ready-for-use between 12 March 2020 and 31 December 2020 with the $150,000 limit applied on a per asset basis.
Consult the Australian Taxation Office to check the eligibility of your business and the applicable threshold amount.