Instant Asset Write Off

With the temporary full expensing (TFE) incentive due to end on 30 June 2023, the federal government has announced the reintroduction of the small business instant asset write-off.

From 1 July 2023, small businesses with aggregated annual turnover of less than $10 million will be able to immediately deduct the full cost of eligible assets that cost less than $20,000.