The small business instant asset write off has passed both houses of parliament.
If your business turns over $2 million a year or less, you can write off an asset purchase up to the value of $20,000 in the financial year of the purchase. There is no limit on the number of these purchases in a year.
If your turnover is under $2 million and are considering purchasing a vehicle, fixtures and fittings, a copier, computer systems or even something simple as a sign out the front of your business, this legislation provides an opportunity worth considering.