Take Advantage of the Instant Asset Write-Off before EOFY!

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It's time!

Make your eligible business spend and you can claim an immediate deduction on your tax this year.

About the $20,000 Instant Asset Write-Off

Eligible businesses can claim an immediate tax deduction for the business portion of the cost of an asset in the year the asset if first used or installed ready for use.

It can be used for:

• Multiple assets, if the cost of each individual asset is less than the relevant limit
• New and second-hand assets.
• Assets that fall within the simplified depreciation rules such as computers, motor vehicles, tools and equipment (excluded assets include assets that are leased out for more than 50% of the time on a depreciating asset lease, assets used in research and development, capital works, and software) - please see the ATO website for further clarification.
• Businesses with an aggregated turnover less than $10m that apply the simplified depreciation rules

If you're a small business you must apply the simplified appreciation rules (see here).

To check your eligibility please refer to the ATO website.