We have received a number of enquiries with regard to the proposed government business stimulus package. The announcement was made on the 12th March and below is what we know so far. Please note that
Threshold increased from $30,000 to $150,000 for assets new or used, installed ready for use by 30 June 2020. This applies to assets purchased post 12th March 2020.
Please note the cost price limit for cars still applies. For the 2020 year this is $57,581.
This applies to business with aggregated turnover of less than $500 Million.
To see a comprehensive summary of how the ATO are applying relief due to the Coronavirus, please click on the link below: