Extension of temporary immediate expensing measure announced

More businesses will soon become eligible for the measure, pending the passage of legislation, as detailed by Grant Wardell-Johnson and Jenny Wong.

Treasurer Josh Frydenberg announced on Monday 23 November 2020 his intention to expand the eligibility for the temporary full expensing measure, which was included in the 2020-21 Federal Budget. The current legislation with the original immediate expensing rules only allows businesses with aggregated turnover of less than $5 billion to deduct the full cost of eligible depreciable assets of any value in the year they are first used or installed. Legislation containing these rules received Ro...

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Authors: Grant Wardell-Johnson, Jenny Wong

Published Date: 23 November 2020