temporary full expensing limit 2023 Page 23

Short answer: under Temporary Full Expensing in 2023 there was effectively no dollar cap on eligible assets — until 30 June 2023, when the party ended.

Eligible businesses (generally up to $5b turnover, with extra allowances for second‑hand assets if under $50m) could immediately deduct the business portion of new assets first used or installed by 30 June 2023.

Big catch: passenger “car” purchases were still bound by the ATO car limit, which for 2022–23 was $64,741 — no full write‑off beyond that, even if it has cupholders for days.

Missed the deadline? You’re back to instant asset write‑off rules or normal depreciation from 1 July 2023, depending on your size and the asset.

As ever, GST treatment, private use, and financing can twist the numbers, so get advice before you plant the flag.