The Instant Asset Write-Off (IAWO) is a tax incentive introduced by the government to stimulate business investment and economic growth.
Under this scheme, businesses can immediately deduct the full value of eligible assets purchased for business use, rather than depreciating the asset’s value over time.
The IAWO allows businesses to claim an immediate tax deduction for assets costing less than a certain threshold, which has varied over the years.
Apart from the obvious tax benefits, the IAWO also helps businesses by boosting their cash flow.
It will also allow you to use the new assets or additional cashflow to stimulate further growth and improve profitability.
The first place to start, is to speak with a tax professional as well as a finance broker to compare your finance options.
