Signage is an important asset for any business, letting customers know who you are and what you do.

Signage, depending on the expenditure, can be either an operating (tax-deductible) expense or a depreciable asset in which case it can be claimed under the instant asset write off scheme.

The ATO has recently extended the instant asset write-off scheme until December 31st 2020 and the threshold amount for each asset is now $150,000 (up from $30,000). The instant asset write-off helps to improve cash flow for businesses by bringing forward tax deductions for eligible expenditure.

To be eligible for the write-off, the asset must be first used or installed ready for use before December 31st. If you were thinking of upgrading your signage, now is the time!

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Disclaimer: this does not constitute financial advice. Please speak to your taxation consultant for advice that is specific to your individual circumstances.