Thinking about upgrading your equipment? The permanent $20,000 instant asset write-off could make now the right time to invest in your business.
Ever thought about upgrading that old piece of equipment, but worried about the upfront cost? Good news for small businesses: the $20,000 instant asset write-off is now a permanent fixture from 1 July 2026.
This is a real opportunity to invest in your business's future. If your business has an aggregated turnover of less than $10 million, you could claim an immediate deduction for the business portion of an eligible depreciating asset costing less than $20,000. Think about what that means: a new computer, a better piece of machinery, or even a vehicle costing less than $20,000– you can claim the full deduction in the year you start using it.
This permanent write-off removes a significant barrier, allowing you to improve efficiency, boost productivity, and stay competitive without waiting years to claim the full tax benefit. It's about making smart investments now that pay off immediately, both operationally and financially.
This is a good opportunity to invest in your business without the usual tax headache. If you're thinking about a new asset, let's chat about how this could benefit you.
Need Help with your Business, Bookkeeping, Tax or SMSF requirements?
If you would like a little help, please get in touch with us for assistance. We can help with your business, bookkeeping, tax and SMSF requirements. To book an appointment, use our online booking system, give us a call on 07 3289 1700, or email us at reception@rgaaccounting.com.au.We look forward to assisting you this tax season!
Take this 25-question, 5-minute diagnostic to uncover your top 3 strengths and top 3 growth areas across 10 key scale-up factors — strategy, leadership, cash flow, and more. Click here. Get instant results.
Please also note that many of the comments in this publication are general in nature and anyone intending to apply the information to practical circumstances should seek professional advice to independently verify their interpretation and the information’s applicability to their particular circumstances. Should you have any further questions, please get in touch with us for assistance with your SMSF, business, bookkeeping and tax requirements. All rights reserved. Brought to you by RGA Business and Tax Accountants. Liability Limited by a scheme approved under Professional Standards Legislation.
