{"id":1836,"date":"2020-05-12T13:15:07","date_gmt":"2020-05-12T03:15:07","guid":{"rendered":"http:\/\/139.99.190.188\/~uptoncom\/?p=1836"},"modified":"2020-05-12T13:15:07","modified_gmt":"2020-05-12T03:15:07","slug":"newsletter-april-2020","status":"publish","type":"post","link":"https:\/\/upton.com.au\/newsletter-april-2020\/","title":{"rendered":"Newsletter April 2020"},"content":{"rendered":"<h3><strong>Is this what your $150,000 tax write-off looks like this year?<\/strong><\/h3>\n<p><strong>Summary-<\/strong> The Government is increasing the instant asset write-off (IAWO) threshold from $30,000 to $150,000 and expanding access to include all businesses with aggregated annual turnover of less than $500 million (up from $50 million) until 30 June 2020. In 2017-18 there were more than 360,000 businesses that benefited from the current IAWO, claiming deductions to the value of over $4 billion.<\/p>\n<p><strong>The IAWO threshold-<\/strong> The higher IAWO threshold provides cash flow benefits for businesses that will be able to immediately deduct purchases of eligible assets each costing less than $150,000. The threshold applies on a per asset basis, so eligible businesses can immediately write-off multiple assets. The IAWO is due to revert to $1,000 for small businesses (turnover less than $10 million) from 1 July 2020.<\/p>\n<p><strong>Eligibility-<\/strong> The Government is expanding access so that more businesses can take advantage of the IAWO. The annual turnover threshold for businesses is increasing from $50 million to $500 million. Expanding the threshold will mean an additional 5,300 businesses who employ around 1.9 million Australians will be able to access the IAWO for the first time.<\/p>\n<p><strong>Timing-<\/strong> This proposal applies from announcement until 30 June 2020, for new or second-hand assets first used or installed ready for use in this timeframe.<\/p>\n<p><strong>Call now<\/strong> to secure your new centre pivot irrigator- Glenn <a href=\"tel:0418366364\">0418 366 364<\/a>, Gerry <a href=\"tel:0427075547\">0427 075 547<\/a> or Paul <a href=\"tel:0417459180\">0417 459 180<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Is this what your $150,000 tax write-off looks like this year? Summary- The Government is increasing the instant asset write-off (IAWO) threshold from $30,000 to $150,000 and expanding access to include all businesses with aggregated annual turnover of less than $500 million (up from $50 million) until 30 June 2020. In 2017-18 there were more &hellip;<\/p>\n","protected":false},"author":1,"featured_media":1837,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[40],"tags":[],"class_list":["post-1836","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-newsletter"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.1.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Newsletter April 2020 | Upton<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/upton.com.au\/newsletter-april-2020\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Newsletter April 2020 | Upton\" \/>\n<meta property=\"og:description\" content=\"Is this what your $150,000 tax write-off looks like this year? Summary- The Government is increasing the instant asset write-off (IAWO) threshold from $30,000 to $150,000 and expanding access to include all businesses with aggregated annual turnover of less than $500 million (up from $50 million) until 30 June 2020. 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