How To Unlock A $20,000 Tax Deduction

Business Info for Aussie Customers

Australian Small Businesses Discover How to Unlock a $20,000 Tax Deduction

Invest $20,000 & "Instantly" Claim It Back

As the end of the financial year approaches, small businesses often look for legitimate tax breaks.

EOFY 2025 is nearly here – the ideal time to upgrade your business assets.

The $20,000 government instant tax write-off has now been approved!

With potential savings on eligible business purchases, you could maximize your tax deductions and free up cash for other purchases.

The $20,000 "instant" asset write-off scheme is a little ripper.

Known as the end-of-financial-year instant asset tax write-off, you may be able to buy equipment for your business up to $20,000.

You may then claim it immediately as a deduction.

A survey by Officeworks and H&R Block, reported in Smart Company, discovered that more than 60% of businesses aren't fully utilizing it due to a lack of knowledge about the scheme and funds available.

For Australian small businesses, this is an opportunity to purchase work-related equipment and write it off in one go.

Rather than having to depreciate it over several years.

This scheme enables companies to invest in new laser tag equipment, valued up to $20,000, and decrease their taxable income by the same amount. (Okay, okay, it doesn't HAVE to be laser tag equipment!! ;-) But it is a bloody good idea!

This is a terrific opportunity to renew or upgrade your arsenal.

If you are interested in ordering, email us today.

The new business assets (other than commercial laser tag equipment) can include:

Work vehicles
Tradie tools and machinery
IT hardware (desktop computers, printers, photocopiers)
Office, studio, and shop furniture and fittings
Equipment storage (sheds and storage containers)
Kitchen equipment
Signage
Air conditioners or Solar panels
Other items (speak to your accountant as to what is eligible).

Which Businesses Are Eligible?

If your business has a turnover of less than $10 million annually, you can claim the $20,000 tax deduction. However, the invoice must be dated before June 30th, 2025, for you to submit your tax return for the 2024-2025 financial year in July or shortly thereafter.

Check with your local Accountant to see if this $20,000 kick-back is right for your business.

small business instant tax rewrite off in EOFY Australia

Where to Get The Funds?

While some businesses might be able to fund the new asset purchase, most small businesses will need financing so the investment doesn't impact day-to-day cash flow.

Many small businesses have worked with Humm Group (previously known as fleixrent or flexi-commercial) to secure loans to purchase new laser tag equipment.

PayPal now offers a small business loan service. If you are a battlefield operator considering investing in new laser tag equipment, it might be worthwhile to investigate the $20,000 tax write-off before the end of this financial year.

$20K Tax Deduction - Summing Up

This turbocharged version of the instant asset write-off scheme was slated to expire last year, and its demise was widely seen as the end of pandemic-era tax breaks designed to foster spending. And with the recent market volatility, who knows if it will be continued next year?

Small businesses with an annual turnover under $10 million will be free to deduct the full cost of business upgrades and resources costing less than $20,000, so long as those purchases are installed and ready for use between July 1, 2024, and June 30, 2025.

The budget papers add that the $20,000 threshold will operate on a per-asset basis, meaning small businesses can instantly write off multiple assets.

Don't miss out. Take action today!

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