From 1 July 2016 the small business threshold has been raised from $2,000,000 to $10,000,000 for the purpose of accessing the accelerated depreciation provisions. Businesses with a turnover under $10,000,000 will be able to access an immediate deduction for the purchase of assets costing less than $20,000. The write off applies to the purchase of each asset under $20,000. It was announced in the May 2017 Budget that the accelerated rate would continue until 30 June 2018.