What is Instant asset write-off?
Tax-specific. A plain-English definition for Australian business owners.
The instant asset write-off allows eligible small businesses to immediately deduct the full cost of eligible depreciating assets up to a threshold amount, rather than depreciating over years.
The threshold amount and eligibility rules are reset by government from time to time; current settings should be checked against the ATO's current guidance.
In a connected back office this sits with the Finance hub, where Valont runs bookkeeping, managed payroll and bas & tax compliance for Australian SMEs as one team. The full definition set is on the glossary.
Talk to an Advisor
General information, not advice. For how this applies to your business, talk it through with a Trusted Advisor or start with the Business Health Check.