Only 4 Months Left to Maximise the $20K Instant Asset Write-off
Small businesses have until 30 June 2026 to take advantage of the $20,000 Instant Asset Write-off (IAWO) — one of the simplest tax incentives available to support business growth.
What Is the $20K Instant Asset Write-off?
The IAWO allows eligible small businesses to:
- Immediately deduct the full cost of assets under $20,000.
- Claim the deduction in the same financial year the asset is first used or installed ready for use.
- Write off multiple assets, as the $20K limit applies per asset, not per year.
Who Can Claim It?
Your business may be eligible if it:
- Has an annual turnover under $10 million.
- Uses simplified depreciation rules.
- Installs and begins using the asset before 30 June 2026.
What Can You Buy?
Eligible asset types include:
- Tools, equipment, and machinery
- Office furniture and technology
- Vehicles (within car limit rules)
- New and secondhand items
Assets must be installed and ready to use, not just ordered, before the deadline.
Why This Matters Now
- Get instant tax savings rather than waiting years through depreciation.
- Improve cash flow when you need it most.
- Make smart upgrades while this incentive is still available.
- The Government has not yet mentioned any plans to extend the $20,000 limit meaning from 1 July 20216 this limit will drop to the original $1,000
How The Macro Group Can Help
We make the process simple by:
- Identifying eligible assets
- Structuring purchases for maximum benefit
- Ensuring you meet timing and documentation rules
Ready to maximise your tax savings?
Get in touch with The Macro Group today to make sure you don’t miss out.