The ATO confirmed that while plans were unveiled in the May budget to extend the $20,000 instant asset-write off for another year to cover 2018-19, this has yet to be approved.
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Small business in for rude shock over asset write-off
Small businesses that have purchased assets since 1 July this year are in for a rude shock, with parliamentary inaction meaning the extension to the asset write-off is still awaiting approval.
