The Australian Government has extended the $20,000 instant asset write-off for small businesses until 30 June 2025. This initiative, regulated by the Australian Taxation Office (ATO), allows eligible small businesses with an aggregated turnover of less than $10 million to immediately deduct the full cost of eligible assets costing less than $20,000. This measure aims to improve cash flow and reduce compliance costs for small businesses, supporting their growth and development.

Read more here: Small Business Support - $20,000 instant asset write-off | Australian Taxation Office