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Tax breaks are few and far between, and the $20,000 instant asset write-off scheme is a ripper. But more than 60% of businesses aren’t fully utilising it, usually due to a lack of funds available. There’s a lot of confusing information about how the scheme works, and what this means for your cash flow. Here’s a transparent, jargon-free guide on how the scheme can benefit your business. The instant asset write-off scheme is a great opportunity for businesses to purchase work-related equipment, and write it off in one go. It allows you to invest in business assets valued up to $20,000 and decrease your taxable income by that same amount.If a lack of capital is stopping you from taking advantage of this opportunity, a short-term business loan can help. So how exactly does the Asset Write-Off work? The $20,000 instant asset write-off can be a huge boost for your business….

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