DAN TEHAN MP
MINISTER FOR TRADE, TOURISM & INVESTMENT
FEDERAL MEMBER FOR WANNON

INSTANT ASSET WRITE OFF

June 18, 2021

8 out of 10 jobs are in the private sector.

A sustainable recovery requires a strong private sector.

Our record investment incentives are filling the order books of the nation.

Over 99 per cent of businesses, employing over 11 million workers, can write off the full value of any eligible asset they purchase.

This has seen their spending on machinery and equipment increase at the fastest rate in nearly 7 years.

The Government is extending the expanded instant asset write off, for small, medium and larger businesses (with a turnover up to $5 billion) until 30 June 2023.

This means for example, a tradie can buy a new ute, a farmer can buy a new harvester and a manufacturer can expand their production line.

Small businesses will also have further opportunities – to buy, sell, deliver and install these assets.

These investment incentives will further expand Australia’s productive capacity and create more jobs.

For more information visit: Australian Taxation Office

Media contact | Cate Mercer-Grant 0408 564 232
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