- Instant Asset Write Off has increased from $30,000 to $150,000 and businesses can now claim an immediate deduction of up to $150K for the purchase of assets in the 2019‑20 income year. This will change as of the 1st July 2020 so now is a good time to speak with your accountant if you are looking at purchasing such things as netting, new machinery etc.
- On-Farm Drought Resilience Grant Program – Up to $10,000 to put towards expert advice or infrastructure investment, there are 3 new eligible infrastructure investments under the Resilience Grants:
-technologies to improve mobile phone connectivity
-weed control (e.g. purchase of registered herbicide)
-soil moisture probes (as an explicit investment under soil moisture monitoring activities).
