In response to the COVID-19 crisis, the Australian Government has increased the Instant Asset Tax Write-off to $150,000. Is your business eligible to benefit? Our team are here to assist you through the process.

Koshie explains the new Government Stimulus Package

How does it work?

Under instant asset write-off eligible businesses can:

  • Immediately write off the cost of each asset that cost less than the threshold.
  • Claim a tax deduction for the business portion of the purchase cost in the year the asset is first used or installed ready for use.
  • Deduct an additional 50% of an asset cost in the year of purchase from 12 March 2020 until 30 June 2021.
  • Instant asset write-off can be used for both new and second-hand assets. Some exclusions and limits apply.


  • Available for businesses with aggregated annual turnover of less than $500 million.
  • Available for vehicles purchased and delivered before June 30th

How Can This Benefit You?

  • Claiming the instant asset write-off could improve cash flow and allow an uplift for your business as you move into the new financial year.  
  • The instant asset write-off allows businesses to replace ageing assets with safer, greener vehicles. This improves efficiency, reduces unscheduled maintenance costs, and improves safety. 
  • With the asset value threshold increased from $30,000 to $150,000, you’ll have better choice when it comes to vehicle options and accessories.

Further Information

For more information regarding the Instant Asset Write-off program and other stimulus package supporting Australian Businesses please visit

Please ensure you speak to your accountant or financial advisor to find out what the implications for your business are. 

Speak to our team to find out what vehicles are eligible.

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10 Church Street
Parramatta, NSW 2150

1300 584 179
02 9204 6490
Michael Petreski

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Please note: The information provided is of a general nature and does not take into account your personal needs and financial circumstances. Nothing constitutes or should be considered to constitute legal, taxation or financial advice. Before making a decision about any of the products or services featured, you should consult with your own independent legal, taxation and financial advisors, who can advise you about your personal circumstances.

Take Advantage of the new Instant Asset Write-off

Federal Government's $30,000 instant asset write-off has been increased to $150,000 as of the 12th of March to 30th of June 2020.