Full instant tax write off* up to $150,000

The full instant tax write off is now available on used equipment up to $150,000.

Instant asset write-off for eligible businesses as outlined by the Australian Taxation Office.

Under instant asset write-off eligible businesses can:

  • Immediately write off the cost of each asset that cost less than the threshold
  • Claim a tax deduction for the business portion of the purchase cost in the year the asset is first used or installed ready for use

Instant asset write-off can be used for both new and second-hand assets. Some exclusions and limits apply.

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.

Changes from 12 March 2020

From 12 March 2020 until 30 June 2020 the instant asset write-off:

Threshold amount for each asset is $150,000 (up from $30,000) eligibility has been expanded to cover businesses with an aggregated turnover of less than $500 million (up from $50 million).

We recommend before you buy to consult your tax agent.

Find out more about eligibility and exclusions.