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Ongoingbusiness.gov_au
Accelerated depreciation of new business assets
Overview
Allows eligible businesses to claim depreciation of new business assets at a faster rate in their tax return.
The accelerated depreciation deduction applies in the income year an eligible new asset is first used or installed ready for use for a taxable purpose.
Eligibility Criteria
Businesses are eligible if they have an aggregated turnover of less than $500 million in the year they are claiming the deduction.
The deduction is available in the 2019-20 and 2020-21 income years.
The depreciating asset must:
- be new and not previously held by another entity (other than as trading stock)
- be first held on or after 2020-03-12
- be first used or first installed ready for use for a taxable purpose on or after 2020-03-12 until 2021-06-30
- and must not have had temporary full expensing or the instant asset write-off rules applied
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Quick Info
Funding Amount
Provides accelerated depreciation as a tax deduction for new depreciating assets. The deduction applies in the income year the asset is first used or installed ready for use for a taxable purpose. No matching requirements are stated.
Closing Date
Ongoing - No closing date
Eligible Locations
National (All States)
Contact
Last updated: 12 February 2026