Big Win for Small and Medium Businesses: Instant Asset Write-Off Increased to $30,000

Posted by Rodney Michail on May 26, 2019 11:54:00 AM
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The instant asset write-off has been increased from $25,000 to $30,000 and extended to business earning up to $50M per year (up from $10M previously) which means that an additional 220,000 businesses will benefit from this new development.


The total number of businesses that can get up to $30,000 write-off is now up to 3.4 million.

What does this mean to you?

If you’ve been foregoing the purchase of new vehicles or equipment for your business, now would be a great time to start buying.

The table below shows that any purchase from April 2, 2019 to June 30, 2019 of a depreciating asset costing less than $30,000 can be immediately written-off.

From 7.30pm (AEST) on 12 May 2015 until 28 January 2019

From 29 January 2019 until before 7.30pm (AEDT) 2 April 2019

From 7.30pm (AEDT) on 2 April 2019 until 30 June 2019

You can immediately deduct the business portion of most depreciating assets costing less than $20,000 each

You can immediately deduct the business portion of most depreciating assets costing less than $25,000 each

You can immediately deduct the business portion of most depreciating assets costing less than $30,000 each

If the cost of the new asset is $30,000 or more, you can add it to your pool of higher cost assets and claim 15% deduction on the first year you start to use it and 30% deduction on the following years.

Here are some examples:


Did not exceed threshold

John owns a computer repair shop and decided to buy a car so his employees can perform at-home repair services. The car costs $20,000 so John can immediately write it off since the cost did not exceed the threshold.

Exceeded the threshold

Mike purchases a $50,000 ute for his construction business and figured he’ll be using the ute for business 50% of the time. In this case, Mike can add $25,000 to his small business pool, claim 15% new asset deduction, and 30% after the first year.


Just to make it clear, the cost of the asset means the amount paid for it plus any additional costs incurred to make the asset ready for use. Example: Installation, Transportation, etc…

Depreciating asset means anything that decreases in value and has a limited useful life span like a vehicle or machinery. (exceptions).


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