Instant Asset Write off $150,000

It has been extended until 31 Dec 2020.

Motor Vehicles

Passenger vehicles, designed to carry a load less than one tonne and fewer than nine passengers, are subject to $57,581 cap. You cannot claim the excess cost of the car.

The passenger vehicles cap increase to $59,136 from 01 July 2020.

Super Contribution

An absolute no-brainer tax minimisation strategy, the maximum amount of $25,000. Utilise unused caps from previous years.