instant asset write-off ato

The instant asset write-off is the ATO’s way of letting eligible small businesses expense certain asset purchases now instead of watching depreciation drip on for years. It generally applies on a per-asset basis up to a legislated threshold, for assets first used or installed ready for use within specified dates.

New or second-hand assets can be eligible, but some items are excluded, and passenger cars are also capped by the ATO car cost limit. Keep tidy records—tax invoices, dates, business-use percentage—and remember private use isn’t deductible, no matter how much you love your ute. Thresholds and timing windows change with Budgets and legislation, so confirm the current rules before you go shopping. For precise advice, talk to a registered tax agent or the ATO.