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The uncapped immediate write-off for depreciable assets.
Businesses that turnover less that $5 billion dollars will be able to claim an immediate write off for the full cost of eligible depreciable assets where:
- The asset was acquired after 7.30pm AEDT on 6th October 2020.
- The asset was first used or installed ready for use by 30th June 2022.
- The asset is a new asset or an improvement to an existing eligible asset. (For businesses with an annual turnover less than $50 million the asset can be second hand).
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