If you’re planning to invest in industrial or commercial laundry equipment including washing machines, dryers, ironers, finishing equipment or commercial dishwashers, now’s the time, with the government announcing an increase in the instant asset write-off threshold from $30,000 to $150,000 until 2021.
They’ve also expanded access to include businesses with an aggregated annual turnover of less than $500 million – previously, it was capped at businesses turning over less than $50 million.
Back in the 2017-2018 financial year over 360,000 businesses benefited from the instant asset write-off, claiming deductions to the value of over $4 billion. In these difficult times this offer could be a huge boost to businesses who are looking to improve their equipment.
The threshold applies for each asset being bought for under $150,000 and can be accessed multiple times.
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