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30 April 2018

Accelerated Depreciation Ending 30 June 2018

Accelerated Depreciation Ending 30 June 2018

If you have a small business with an annual turnover of less than $10 million from 1 July 2016 onwards ($2 million for previous income years) you can access the instant write-off or accelerated depreciation offered on eligible assets that cost less than $20,000, or $22,000 including GST if you are registered for GST.

Instant write-off or accelerated depreciation means you can claim the full business portion of the value of any eligible asset that was purchased and installed ready for use between 12 May 2015 and 30 June 2018. This does not mean you receive cash back from the government up to this amount, but rather the cost of the asset can reduce your taxable income, and therefore the tax payable on the business income, in the financial year in which you bought the asset.

This scheme was originally introduced in the May 2015 budget and could be applied to assets purchased from 12 May 2015 onwards. This was initially set to end on 30 June 2017 but was later extended to 30 June 2018. Prior to the introduction of this policy, the instant asset write-off was only applicable on assets that cost less than $1,000.

While some small business groups are pushing for the write-off scheme to become a permanent measure, the government has not yet commented on whether it will extend the scheme beyond 30 June 2018 in next month’s budget.


Liability limited by a scheme approved under Professional Standards Legislation. Liability is limited in those States where a current scheme applies.  


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