Did you know the instant asset write-off threshold is $30,000 for each asset?
You can use the instant asset write-off to claim an immediate deduction when you purchase new or second-hand assets for your business, such as:
You can claim an immediate deduction for multiple assets, so long as each asset costs less than $30,000.
For example, you can claim a deduction to purchase a new vehicle costing $25,000 and new office equipment costing $10,000 as both assets cost less than the $30,000 threshold.
The usual rules for claiming deductions still apply. You can only claim the business portion of the expense, and make sure you have records to prove you paid for it.