Dinner in Restaurant

Claim immediate deduction

$20,000 instant asset write-off – extended to 30 June 2019


The Bill extends the immediate write off of assets costing less than $20,000 to 30 June 2019, received royal asset on 21 September 2018.


You are eligible to use simplified depreciation rules and claim an immediate deduction for the business portion of each asset (new or second hand) costing less than $20,000 if:

  1. you have a turnover of less than $10 million (increased from $2 million on 1 July 2016), and

  2. the asset was first used or installed ready for use in the income year you are claiming it.

Assets that cost $20,000 or more can’t be immediately deducted. They will continue to be deducted over time using the general small business pool. You write off the balance of this pool if the balance (before applying any other depreciation deduction) is less than $20,000 at the end of an income year.


The $20,000 threshold applied from 12 May 2015 will reduce to $1,000 from 1 July 2019.

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