Immediate 20% write-off for assets over $20,000 proposed by Labor, with remaining 80% depreciated from the first year – not Div 43 capital works, R&D items or passenger cars
On 13 March 2018, the Opposition Leader: Bill Shorten announced that, if elected, his Government would introduce legislation to permit an immediate 20% tax deduction, for any new eligible asset worth more than $20,000. This would be available to all businesses (and they call it the ‘Australian Investment Guarantee’). The scope and key design features…