instant tax write-off 2023

Ah, the instant tax write-off—Australia's little gift to business owners wanting to dodge the tax man in style. For 2023, the instant asset write-off allows eligible businesses to immediately deduct purchases of assets costing less than $20,000. This means you can splash out on that shiny new ute or office gadget and claim it all back in your tax return for the same year. Keep in mind, the asset must be first used or installed ready for use in the 2023 financial year. Check your business size and eligibility carefully, and for the nitty-gritty, the Australian Taxation Office is your best mate. For more details or to scout for assets, Tradingpost and CarShowroom might just have what you need.