Asset write-offs for businesses
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.
The instant asset write-off allows an asset write-off of up to $20,000 and can apply to multiple assets (provided the cost of each individual asset is less than the relevant threshold); it covers new and second‑hand assets.
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.
Eligibility, and the year in which you may use the instant asset write-off to claim an immediate deduction for an asset, depends on:
- your aggregated turnover (the annual turnover of your business and that of any business entities that are your affiliates or connected with you)
- the date you purchased the asset
- when it was first used or installed ready for use
- and the cost of the asset being less than the limit
The instant asset write-off can be used for multiple assets if the cost of each individual asset is less than the relevant threshold and applies to new and second-hand assets.
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Last updated: 12 February 2026