Temporary Full Expensing in 2023 was the tax office’s version of “rip the Band-Aid off”: eligible businesses could immediately deduct the full cost of qualifying assets.
It applied to assets first used or installed ready for use between 6 Oct 2020 and 30 Jun 2023; miss that date and you’re back to normal depreciation (or the instant asset write-off if you qualify).
Cars were still capped by the car limit — for 2022–23 that was about $64,741 — and you could only claim the business-use portion, so no, your weekend trip to Bunnings makes it 0% deductible.
If you ordered something but it wasn’t installed and ready by 30 June 2023, tough bikkies: no TFE, just the usual rules from 1 July 2023 onward.
For current-year buys, check the instant asset write-off settings and thresholds, which change more often than fuel prices. Consult official documentation for exact figures.
Office Furniture
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Food and Catering Equipment
Food and Catering Equipment
Food and Catering Equipment
Food and Catering Equipment
Food and Catering Equipment
Food and Catering Equipment
Food and Catering Equipment
Food and Catering Equipment
Food and Catering Equipment
Food and Catering Equipment
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