Australia's Instant Asset Write-off Extension Enacted

On 10 April 2019, Australia registered the Treasury Laws Amendment (Increasing and Extending the Instant Asset Write Off) Act 2019 (Act No. 51 2019), which received royal assent (was enacted) on 6 April. The Act extends by 12 months to 30 June 2020 the period during which small business entities can access expanded accelerated depreciation rules (instant asset write-off) and increases the threshold below which amounts can be immediately deducted under the rules from AUD 20,000 to AUD 25,000 …