If you have a small business with an aggregated turnover of less than $10 million you can choose to use the simplified depreciation rules. Using the simplified depreciation rules, assets costing less than the relevant instant asset write-off threshold are written off in the year they are first used or installed ready for use. This threshold applies to each asset irrespective of whether the asset is purchased new or second-hand.
The threshold has changed over the last 4 years and during the current year as shown in the table below:
Between 2 Apr 2019 to 30 Jun 2020 $30,000
Between 29 Jan 2019 and 2 Apr 2019 $25,000
Between 12 May 2015 and 28 Jan 2019 $20,000