Summary
Amends the
Income Tax Assessment Act 1997
and
Income Tax (Transitional Provisions) Act 1997
to: extend 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 increase the threshold below which amounts can be immediately deducted under the rules from $20 000 to $25 000 from 29 January 2019 until 30 June 2020.