Instant Asset Write-Off
Eligible businesses can claim an immediate deduction for the business portion of the cost of an asset in the year the asset is first used or installed ready for use.
Instant asset write-off can be used for:
- multiple assets if the cost of each individual asset is less than the relevant threshold
- new and second-hand assets.
If you are a small business, you need to apply the simplified depreciation rules to claim the instant asset write-off. It cannot be used for assets that are excluded from those rules.
The instant asset write-off eligibility criteria and threshold have changed over time. You need to check your business’s eligibility and apply the correct threshold amount depending on when the asset was purchased, first used or installed ready for use.
For more information on what this means for your business visit the ATO website.
Ask us a question
[[[["field15","equal_to","Other"]],[["show_fields","field16"],["hide_fields","field7,field1,field3,field4,field11,field5,field17,field19,field20"]],"and"],[[["field17","equal_to","Trade show"]],[["show_fields","field19"]],"and"],[[["field17","equal_to","Other"]],[["show_fields","field20"]],"and"]]
1
Step 1