Coronavirus Economic Response Package Omnibus Act 2020 (22 of 2020)

Schedule 1   Enhancing the instant asset write-off

Income Tax (Transitional Provisions) Act 1997

17   At the end of subsection 328-180(4)

Add:

; or (d) were a reference to $150,000, if you first acquired the asset at or after the 2015 budget time, and you:

(i) first used the asset, for a taxable purpose, at or after the 2020 announcement time and on or before 30 June 2020; or

(ii) first installed the asset ready for use, for a taxable purpose, at or after the 2020 announcement time and on or before 30 June 2020.