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Tempoary Increase to the Instant Asset Write-Off

Under current law, the small business instant asset write-off threshold is (less than) $1,000 for the 2025 income year.

However, the Government has announced that it will temporarily set the instant asset write-off threshold for small business entities at (less than) $20,000 for the 2025 income year.

Small business with an aggregated annual turnover of less than $10 million will generally be able to immediately deduct the full cost of eligible assets costing less than $20,000 that are used or installed before 30 June 2025.

Assets valued at $20,000 or more can continue to be placed into the small business simplified depreciation pool and depreciated at 15% in the first year, and 30% each year after.

From 1 July 2025, the threshold will revert to $1,000


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