05/05/2026
If you run a small business in Australia, this is worth five minutes of your time.
The $20,000 Instant Asset Write-Off is still available right now, but it closes on 30 June 2026, and after that the threshold drops back to just $1,000. That’s a significant difference, and May and June are your last real window to act on it.
If your business turns over less than $10 million a year, you can claim the full cost of any eligible asset under $20,000 as an immediate tax deduction, instead of depreciating it bit by bit over several years. That means less taxable income this financial year, and better cash flow heading into the new one.
The asset just needs to be in use (not just purchased, actually installed and operational) before 30 June. Whether it’s tools, a laptop, a work vehicle, a new piece of equipment, or office furniture, if it’s under $20,000 and genuinely for business use, it likely qualifies. You can also claim multiple assets in the same year.
A few things worth knowing before you move:
The deduction only applies to the business-use portion of the asset. Keep your invoices and records. And please speak with your accountant or registered tax agent before making any big purchase decisions. This post is general information, not tax advice.
If your books have been sitting on the back burner, now’s the time to sort them out. The deadline is real, and once July hits, this threshold won’t be what it is today.
*General information only. Please consult a registered tax agent for advice specific to your business.
