Basically, the changes will enable small businesses to write off all depreciable assets where the taxable purpose proportion is less than $5,000 in the income year in which they start to use the asset, or have it installed ready for use.
This amount may be increased to $6,500 as part of the carbon pricing announcements.
The changes also allow most other assets to be depreciated in a single pool at a 30% rate. The change will apply from the 2012-13 income year.
What does this all mean, well normally if you purchased say a computer for $2500, it would need to be depreciated over 3-4 years. As of July 2012 assets