Ute beauty! Instant asset write-off extended

Tradies and small business fleets have been given an extension to cash-in on the Federal Government’s $150,000 instant asset write off scheme, after it was announced overnight the deadline has been moved from the end of June 2020 to the end of December 2020. The six-month extension means business buyers who may not be able to take delivery of a new work vehicle before the original 30 June 2020 deadline can now take advantage of the tax benefit in the 2020/2021 financial year.