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Capricorn Finance offers business equipment finance in Australia and New Zealand through Capricorn Society Limited (ACN 008 347 / NZBN 9429038593185) and brokers business finance through Capricorn Society Financial Services Pty Ltd (ACN 129 134 667). Fees and charges, terms and conditions, and lending criteria apply.

Instant asset write off

An instant asset write-off threshold for eligible businesses was increased from $30,000 to $150,000.  Eligibility has also been extended to businesses with an aggregated turnover of less than $500 million (up from $50 million).  These rules apply in relation to assets first used or installed ready for use between 12 March 2020 and 30 June 2021, and purchased by 31 December 2020.

The Government has also introduced temporary full expensing for some assets until June 2022.

The higher Instant Asset Write-Off (IAWO) threshold provides cash flow benefits for businesses that will be able to immediately deduct purchases of eligible assets each costing less than $150,000. The threshold applies on a per asset basis, so eligible businesses can immediately write‑off multiple assets.

Full details

 

For more information call 1800 327 437