This is our third publication of useful resources for our
clients during the current coronavirus disruption. Our first publication and second publication are available on our
website. Clients are welcome to raise specific issues which they
would like us to comment upon in future publications.
New tax incentives: accelerated deductions for certain IP
expenditure
Changes introduced by the Coronavirus Economic Response Package Omnibus
Act 2020 (Cth) mean that between now until 30 June 2020,
expenditure related to patents, registered designs or copyright,
with a cost of less than $150,000 per asset, may be eligible for an
immediate 100% deduction under the Instant Asset Write-off.
Alternatively, if the Instant Asset Write-off is not available,
between now and 31 June 2021, immediate deductions of 50% on
expenditure related to patents, registered designs or copyright may
be available. The remaining 50% would then depreciate across the
statutory effective life of the
