Instant asset write-off & EOFY finance
Instant asset write-off & EOFY equipment finance, explained.
How the write-off and end-of-financial-year timing actually work for financed equipment — and how to get the asset installed ready for use before 30 June. Equipment and asset finance up to $5M* through our lending network, with same-day decisions.
*Subject to lender credit criteria.
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Instant asset write-off — current status
The $20K instant asset write-off threshold was law up to and including 30 June 2026. Its permanent continuation from 1 July 2026 was announced in the 2026–27 Budget on 12 May 2026 and is not yet law. The relevant Bill is the Treasury Laws Amendment (Tax Reform No. 2) Bill 2026. Absent enactment, the legislated threshold reverts to $1K.
Last verified 10 July 2026. Check the current position on the ATO instant asset write-off page. This is general information only — confirm your position with a registered tax agent.
*Subject to lender credit criteria. Speed is the whole point at EOFY.
Why timing matters
The 30 June installation rule
To claim a deduction in a given financial year, the asset must be first used or installed ready for use by 30 June of that year. Not just ordered. Not just invoiced. Physically on-site and available for use.
That means finance approval time + delivery lead time + installation = your real deadline. If you need a truck delivered from interstate, or an excavator shipped from a dealer, those days count.
Applying now is what makes the 30 June deadline achievable. Finance approval is typically same-day through our lending network — the bottleneck is delivery, not the money.
EOFY timeline — work backwards
Asset must be on-site and ready for use
1–14 days depending on asset type and location
24–48 hours after finance approval
Same business day (standard applications)
The earlier you apply, the more buffer you have
Speak to your accountant about your specific deduction eligibility and timing.
Tax timing
Instant asset write-off & depreciation
The tax benefit at EOFY depends on the asset's value. Two different mechanics apply:
Assets under $20,000
Eligible businesses (aggregated turnover under $10M) can immediately deduct the full cost in the year the asset is first used or installed ready for use. Suits utes, tools, smaller fit-outs, IT equipment.
Assets over $20,000 (trucks, excavators, cranes, plant)
Depreciated over the asset's effective life. The EOFY benefit is timing — installing before 30 June means depreciation starts this financial year. Under a chattel mortgage, you also claim the GST input credit upfront and deduct interest. A $400,000 truck does not get an instant write-off — it gets depreciation, and earlier installation means earlier depreciation.
Quick reference
This is general information only. Speak to your accountant about your eligibility and the right structure for your business.
What you can finance before EOFY
Get it on-site before 30 June
Every asset category below can be approved same-day and settled within 24–48 hours through our lending network. The question is delivery time — apply early.
All equipment →
Plant, machinery, vehicles, medical, hospitality, IT — every asset category up to $5M.
Trucks →
Prime movers, rigids, tippers, reefers, trailers. All makes, new and used.
Excavators →
Mini to 50t+. All brands, all tonnages. Attachments bundled.
Cranes →
Mobile, crawler, tower, truck-mounted. Franna to all-terrain.
Construction plant →
Loaders, dozers, graders, telehandlers, rollers. Civil and construction.
Tradie equipment →
Utes, tools, fit-outs, smaller plant. Instant write-off eligible under $20K.
Process
How it works — against the deadline
Apply today
Complete our short form with the asset details and your business profile. Takes 2 minutes.
Same-day decision
Matched to a specialist lender. Approval typically same business day for standard applications.
Delivered & installed
Funds to the vendor within 24–48 hours. You arrange delivery and installation.
Claim this year
Asset installed ready for use before 30 June = deduction in that financial year. Confirm with a registered tax agent.
FAQ
EOFY questions
Common questions about financing equipment before 30 June. Tax advice is general only — speak to your accountant.
Apply before the deadline →What is the 30 June installation rule?
To claim a deduction in a given financial year, the asset must be first used or installed ready for use by 30 June of that year. Ordering, invoicing, or paying before 30 June is not enough — the asset needs to be physically on-site and available for use. Confirm your specific situation with a registered tax agent.
I've ordered equipment but delivery is after 30 June — can I still claim?
Generally no. If the asset is not installed ready for use by 30 June, the deduction falls into the next financial year. This is why applying early matters — you need approval time plus delivery time to physically have the asset on-site before the deadline. Confirm your position with a registered tax agent.
Can I claim a deduction on equipment that's financed?
Yes. Under a chattel mortgage structure, you are the legal owner from settlement — so you can claim depreciation (and the GST input credit upfront) even though you're making repayments on the asset. Other structures (hire purchase, finance lease) have different ownership and deduction timing. Confirm which structure suits your tax position with a registered tax agent.
What is the $20,000 instant asset write-off?
Eligible small businesses (aggregated turnover under $10 million) can immediately deduct the full cost of eligible assets costing less than the instant asset write-off threshold each, when the asset is installed ready for use by 30 June. The threshold has been $20,000 — see the current status note near the top of this page, as its continuation is announced but not yet law. This suits smaller assets — tools, laptops, fit-outs, smaller vehicles. It does not mean a $400,000 truck gets written off instantly. Confirm the current threshold and your eligibility with a registered tax agent.
What about bigger assets over $20,000 — trucks, excavators, cranes?
Assets over the $20,000 threshold are depreciated over their effective life under the general depreciation rules (or the small business simplified depreciation pool if eligible). The EOFY benefit for larger assets is timing — having the asset installed before 30 June means you start depreciating this financial year rather than waiting until next year. Under a chattel mortgage, you can also claim the GST credit upfront. Speak to your accountant.
How fast can equipment finance be approved and settled?
Same-day decisions are standard for straightforward applications through our lending network. Funds or direct vendor payment typically within 24–48 hours of approval. That means if you apply today and are approved, you could have the asset purchased and delivered within days — well inside the 30 June deadline. Subject to lender credit criteria.
Is it too late to apply for EOFY equipment finance?
If you're reading this before mid-June, you likely still have time for standard equipment purchases. For larger or custom-order equipment with longer delivery lead times, apply as early as possible. The bottleneck is usually delivery, not finance approval (which is typically same-day).
Does the asset need to be new?
No. Both new and used assets are eligible for depreciation deductions and can be financed through our lending network. The same 30 June installation requirement applies regardless of whether the asset is new or used.
Don't miss it
30 June is a hard deadline.
Your accountant can't move it.
Apply now, get approved same-day, and have the asset on-site before the financial year ends. Two-minute application. Soft credit check only — no impact on your score.