Reminder: temporary increased low-value asset threshold finishes 16 March
25/02/2021 by G W Scott & AssociatesOne of the government's Covid-19 measures has been to temporarily increase the low-value asset threshold for depreciation from $500 to $5,000.
If you buy assets, such as computers or a new phone, before 16 March 2021 and it's $5000 or less, then we can deduct the full cost of these assets.
Don't buy it if you don't need it, but if you were thinking about buying, then now is a good time.