$30,000 INSTANT ASSET WRITE-OFF
Asset write-offs for small businesses
Last Updated: 08 November 2019
$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.
What do you get?
Who is this for?
An asset write-off of up to $30,000.
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
Find out more at Instant Asset Write-Off.
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 at Instant Asset Write-Off.
