We are buying some equipment for the business and were told it’d be ready before end of June but there’s been a delay until mid July. We wanted to take advantage of the government $20,000 subsidy but don’t want to pay for the equipment until it arrives. If the purchase was invoiced before 30 June will that still be ok, thanks ?

Hi Ben,

Unfortunately the ATO requirements are that the equipment be 'installed and ready for use'. The fact that the invoice/order paperwork identifies June makes no difference (working by the book). Speak to your accountant to confirm their views, and maybe check out the other tax minimisation options available to you.

Note - at this stage the $30k write-off allowance is to extend to the end of June 2020, so all is not lost. If this bit of equipment is going to increase turnover substantially, may be better to have the deduction in next year (depending on your business structure).

Todd.