COVID-19 update: The Government has announced a mandatory code of conduct for commercial tenancies. You can find this information and stay up-to-date on the latest support for business on our coronavirus page or by calling 13 28 46.×

You are here:

$30,000 Instant Asset Write-Off


The $30,000 Instant Asset Write-Off provides small businesses with an asset write-off. Assets must cost less than the instant asset write-off threshold and be purchased and used in the year that the write-off is claimed.
Open

What do you get?

An asset write-off of up to $30,000.

Who is this for?

Small businesses.

Overview

The $30,000 Instant Asset Write-Off provides small businesses with an asset write-off of up to $30,000 for assets costing less than the instant asset write-off threshold which are purchased and used in the year that the write-off is claimed.

What are the eligibility criteria?

To be eligible, you must:

  • be a small business as recognised by the ATO

To find out how small businesses are defined, visit Small Business Entity Concessions – Eligibility.

Assets must:

  • cost less than the instant asset write-off threshold
  • be purchased and used in the year the write-off is claimed

How do you apply?

There is no application required. The write-off is applied when you lodge your tax for the relevant year.

Find out more about eligibility and how to apply at Instant Asset Write-Off.