ROY SPAGNOLO & ASSOCIATES Chartered Accountants $20,000 INSTANT ASSET WRITE-OFF EXTENDED The Government recently passed legislation to extend the $20,000 instant asset write-off for small businesses to 30 June 2026. Taxpayers should note that if their business has an aggregated annual turnover of less than $10 million, they may be able to use the instant asset write-off ('IAWO') to immediately deduct the business portion of the cost of eligible assets which cost less than $20,000. Eligible assets must basically have been first used (or installed ready for use) between 1 July 2025 and 30 June 2026. The $20,000 limit applies on a per asset basis, so taxpayers can instantly write-off multiple assets. The IAWO can be used for both new and second-hand assets (but some exclusions and limits apply). A CHARTERED ACCOUNTANTS AUSTRALIA + NEW ZEALAND DANIA TIP 7189 18 193 Yambil Street, Griffith NSW 2680 Ph: 6964 4400 | www.royspagnolo.com.au Like Us On facebook f 235747 ROY SPAGNOLO & ASSOCIATES Chartered Accountants $ 20,000 INSTANT ASSET WRITE - OFF EXTENDED The Government recently passed legislation to extend the $ 20,000 instant asset write - off for small businesses to 30 June 2026 . Taxpayers should note that if their business has an aggregated annual turnover of less than $ 10 million , they may be able to use the instant asset write - off ( ' IAWO ' ) to immediately deduct the business portion of the cost of eligible assets which cost less than $ 20,000 . Eligible assets must basically have been first used ( or installed ready for use ) between 1 July 2025 and 30 June 2026. The $ 20,000 limit applies on a per asset basis , so taxpayers can instantly write - off multiple assets . The IAWO can be used for both new and second - hand assets ( but some exclusions and limits apply ) . A CHARTERED ACCOUNTANTS AUSTRALIA + NEW ZEALAND DANIA TIP 7189 18 193 Yambil Street , Griffith NSW 2680 Ph : 6964 4400 | www.royspagnolo.com.au Like Us On facebook f 235747