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From 12 March 2020 until 30 June 2020 the instant asset write-off:
- threshold is $150,000 (up from $30,000)
- eligibility range covers businesses with an aggregated turnover of less than $500 million (up from $50 million).
Instant asset write-off thresholds
| Date range for when asset first used or installed ready for use | Threshold | Eligible businesses |
| 12 March 2020 to 30 June 2020 | $150,000 | Less than $500 million turnover |
| 7.30pm (AEDT) on 2 April 2019 to 11 March 2020 | $30,000 | Less than $50 million turnover |
| 29 January 2019 to 7.30pm (AEDT) on 2 April 2019 | $25,000 | Less than $10 million turnover |
| 7.30pm (AEST) on 12 May 2015 to 28 January 2019 | $20,000 | Less than $10 million turnover |
| 1 January 2014 to prior to 7.30pm (AEST) 12 May 2015 | $1,000 | Less than $10 million turnover |
| 1 January 2012 to 31 December 2013 | $6,500 | Less than $10 million turnover |
| 1 July 2011 to 30 June 2012 | $1,000 | Less than $10 million turnover |
From 1 July 2020 the instant asset write-off will only be available for small businesses with a turnover of less than $10 million and the threshold will be $1,000.
Exclusions and limits
There are a small number of assets that are excluded.
In addition, if you purchase a car for your business, the instant asset write-off is limited to the business portion of the car limit of $57,581 for the 2019–20 income tax year.
Contact Expert Tax on 0449 952 855 or 1300 869 829 for assistance on tax related matters.
