The Treasury Laws Amendment (Tax Reform No. 2) Act 2026 received Royal Assent on 26 August 2026, permanently setting the small-business instant asset write-off at $20,000 per asset from 1 July 2026. It is available to businesses with aggregated annual turnover under $10 million and applies per asset, so multiple eligible assets under $20,000 can each be written off in the same year.
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Australia makes the $20,000 instant asset write-off permanent from 1 July 2026
Why this matters for founders
Founders running a company with under $10M turnover can now plan capital purchases (laptops, tools, equipment) knowing each item under $20,000 is immediately deductible in the year it is first used; time asset buys to the income year you want the deduction and keep them under the per-asset cap.
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