Eligible businesses can claim an instant deduction for the business-use cost of assets in the year they’re first used or installed.
Key Info
· Applies to new and second-hand assets.
· Multiple assets can be claimed if each is under the relevant limit.
· Simplified depreciation rules must be used by small businesses.
· Excludes certain assets (check ATO guidelines).
· Additions to previously written-off assets can also be claimed if under the limit.
Current Eligibility (as of 2023–25)
Businesses with aggregated turnover under $10M can claim assets under $20,000, if first used between 1 July 2023 and 30 June 2025.
Instant Asset Write-Off Limits – Small Business (<$10M Turnover)
| Date range asset first used/ready | Limit |
| 1 July 2023 – 30 June 2025 | $20,000 |
| 12 Mar 2020 – 30 June 2021 (if bought by 31 Dec 2020) | $150,000 |
| 2 Apr 2019 – 11 Mar 2020 | $30,000 |
| 29 Jan 2019 – 2 Apr 2019 | $25,000 |
| 1 July 2016 – 28 Jan 2019 | $20,000 |
Temporary Instant Asset Write-Off – Medium Business
| Aggregated Turnover | Date range asset first used/ready | Limit |
| < $500M | 12 Mar 2020 – 30 June 2021 (if bought by 31 Dec 2020) | $150,000 |
| < $50M | 2 Apr 2019 – 11 Mar 2020 | $30,000 |
