11 Jul Temporary full expensing has now ended
The immediate deduction for the cost of eligible depreciating business assets that has been available under the temporary full expensing concession since 2020 has now ended.
The instant asset write off method has now been reinstated for the immediate deduction of the cost of an asset.
From 1 July 2023, an immediate deduction will only be available to small business entities (with aggregated turnover less than $10 million) for assets costing less than $20,000.