The instant asset write-off lets you deduct the business portion of eligible assets costing under $20,000 straight away.
Who can apply
Businesses that meet the ATO's turnover test, buying new or second-hand assets under the threshold. Which year you can claim depends on your turnover and when the asset was first used.
Not sure this fits your business?
This one is claimed through your tax return, so there's no application for us to write. We'll still flag it on your shortlist, alongside the grants we can apply for on your behalf.
Eligibility quick-check
- Usually fineBusiness structure: the listed criteria don't require a company. You'll usually need an active ABN, and often GST registration.
- Check thisTurnover: < $10m
- Usually fineLocation: open Australia-wide, including Victoria.
A quick guide from our reading of the official criteria, not a decision. The funder's guidelines are what count.
How to apply for Instant Asset Write-Off
- Check the conditions on the official page (turnover, timing and what qualifies).
- Keep the records the ATO or the provider asks for (invoices, dates, how the asset or cost is used).
- Claim it in your tax return or the provider's form. Your tax agent normally does this step.
- Ask your accountant how it interacts with other concessions before you rely on it.
Instant Asset Write-Off: common questions
Who can apply for Instant Asset Write-Off?
Businesses that meet the ATO's turnover test, buying new or second-hand assets under the threshold. Which year you can claim depends on your turnover and when the asset was first used.
How much is Instant Asset Write-Off worth?
An asset write-off of up to $20,000.
When does Instant Asset Write-Off close?
Closing date not stated. Check the official page for the current round.
Can sole traders apply for Instant Asset Write-Off?
The listed criteria don't require a company, so sole traders may be eligible if they meet everything else (for example ABN, location, trading history and industry). Check the guidelines.
Is there an application form?
Usually not. Tax concessions are generally claimed in your tax return or through the provider's own form, so your tax agent is the right person to help.
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