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Small business instant write-off, am I eligible?

Filed under: Materials Handling

An un-missable opportunity exists for Australian small businesses to benefit from an instant write-off at tax time ends on the 30th of June 2018.

The asset write-off threshold is $20,000, meaning purchases up costing less than this amount potentially qualify for the instant write-off.

Am I Eligible?


As outline by the Australian Tax Office in their small business communications small businesses who meet the requirements below can utilise the deduction when completing their 2017-18 tax returns.

To qualify for the deduction:

  • The claiming business must have an annual turnover of less than $10 million
  • The asset must be first used or installed ready for use in the income year it is being claimed in

Normally assets purchased need to be written off over their lifetime, however under this offer purchases under the $20,000 limit can be written of immediately to their full value in a company’s tax return for the 2017-18 financial years.

This can provide small business with some welcome tax relief, whilst securing a useable asset that benefits the business in the long-term.

Note: From 1 July 2018 the tax write-off is still available but only to the value of $1,000.

This is the perfect opportunity for businesses to invest in a new or quality second-hand unit to improve their operations.

Adaptalift Group has a number of current specials on high quality new units available to meet any materials handling requirement that do not exceed the threshold and can be written off under the scheme.

Examples of equipment that can be claimed include:

small biz instant tax write-off equipment

To discuss your latest materials handling requirements and to capitalise on this generous tax incentive talk to your nearest branch on 13 22 54 or email .(JavaScript must be enabled to view this email address)

Remember, registered tax agents and BAS agents can help with general tax advice.

Reference List

  1. Australian Tax Office. (2018). Instant asset write-off. [online] Available at: https://www.ato.gov.au/Business/Depreciation-and-capital-expenses-and-allowances/In-detail/Depreciating-assets/Simplified-depreciation—-rules-and-calculations/?page=4 [Accessed 5 Apr. 2018].

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