Take advantage of the $20,000 Instant Asset Write-Off while it’s still available.
💡 What Is the $20,000 Instant Asset Write-Off?
It’s a tax incentive from the Australian Government allowing eligible small businesses to immediately deduct the full cost of business assets up to $20,000 (excluding GST), rather than depreciating the cost over several years.
✅ Who Qualifies?
To be eligible, your business must:
- Have an aggregated annual turnover under $10 million
- Purchase an asset that costs less than $20,000 (ex GST)
- Ensure the asset is first used or installed ready for use between 1 July 2024 and 30 June 2025
🔍 What Assets Qualify?
Assets must be used mainly for business purposes. Examples include:
- Tools, equipment and trade machinery
- Office furniture and technology
- Computers, laptops, and point-of-sale systems
- Business vehicles under the $20,000 threshold
💸 Can I Use a Loan to Finance the Purchase?
Yes and here’s where it gets powerful:
✅ Example:
ABC Electrical purchases a new work van for $19,000 (ex GST) using a business loan:
- ABC claims $19,000 instantly under the asset write-off in the 2024–25 tax year.
- ABC also claims a deduction for interest on the loan each year over the life of the loan.
Tax impact:
- $19,000 upfront deduction @ 25% tax rate = $4,750 tax saving
- Plus interest deductions each year
This boosts cash flow and offsets taxable income without needing to pay for the asset upfront.
⏳ Why Act Before 30 June 2025?
- The current $20,000 threshold is set to end on 30 June 2025
- From 1 July 2025, the threshold will likely drop back to $1,000
- That means no more full deductions in one year – just slow depreciation
🧭 Why Finance Through FinRoc?
At FinRoc Finance, we help business owners:
- Find options for equipment or vehicle loans
- Navigate lender requirements quickly
- Maximise tax advantages and preserve cash flow
📣 Don’t Miss This Opportunity
The instant asset write-off is a limited-time window to invest smartly and save big on tax.
Let’s make it work for you. Get in touch before 30 June 2025!
Contact Margaret at FinRoc Finance
Your Finance Navigator – empowering business owners, one smart loan at a time.
📧 Email: info@finrocfinance.com.au
📞 Phone: 0414 012 250
🌐 Website: www.finrocfinance.com.au