Instant Asset Write-Off Extended to 30 June 2026 — What This Means for Your Business

Great news for small businesses — the Federal Government has extended the $20,000 Instant Asset Write-Off until 30 June 2026. This means eligible small businesses can continue to claim immediate deductions on the cost of assets, making it easier to invest in growth.

How it works

If your business has an aggregated turnover of less than $10 million, you can immediately deduct the full cost of eligible assets costing less than $20,000 each. The limit applies on a per-asset basis, so you can claim multiple assets in the same year.

Assets must be first used or installed ready for use between 1 July 2023 and 30 June 2026. This could include tools, equipment, technology, office furniture, or other assets that help your business operate more effectively.

Why it matters

• Boost cash flow — immediate deductions reduce your taxable income

• Encourage growth — upgrade equipment or invest in productivity tools sooner

• Flexibility — claim multiple eligible assets without hitting a combined cap

Take advantage now

With this extension, you have more time to plan and invest wisely — but don’t wait until the last minute. Strategic purchases can help you grow while taking advantage of this valuable tax concession.

At True North Accountants, we help small businesses in Byron Bay and the Northern Rivers unlock smart tax strategies and build long-term wealth. If you’re thinking about making an asset purchase, get in touch so we can ensure you’re maximising your tax benefits.

Contact us today to discuss whether your planned purchases are eligible for the Instant Asset Write-Off.