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The 2024-25 financial year presents a significant opportunity for small businesses across Australia with the Instant Asset Write-Off. This incentive allows you to fully deduct the cost of eligible assets purchased during the 2024 income year, with the threshold set at $20,000. This write-off can reduce your taxable income, freeing up vital cash to reinvest in your business.

But don’t wait—this opportunity is time-sensitive. Initially set to benefit businesses in 2024, the threshold has been extended to June 30, 2025, as proposed in the Federal Budget. This extension provides more time to take advantage, but the window is still limited.

Our guide will help you navigate the steps needed to make the most of this tax incentive. From determining eligibility to claiming the write-off, we’ll walk you through how to maximise your tax benefits and position your business for growth.

At Cordner Advisory, we specialise in guiding businesses through the complexities of tax law, ensuring you seize every opportunity for financial gain. Don’t leave money on the table—take control of your financial future today. Contact us to learn more about how we can help you leverage the Instant Asset Write-Off and other tax benefits.

At the end of the financial year, the ATO intensifies its efforts to ensure businesses and individuals adhere to tax regulations. This period sees an increase in compliance checks, making it crucial for you to stay informed about the ATO's focus areas. Understanding these focus areas and implementing strategies to maximise your tax deductions while minimising risks is essential for maintaining financial health and avoiding penalties. In this blog, we delve into the ATO's primary targets and offer practical tips to enhance your tax strategy, ensuring you navigate the end-of-year checks with confidence and compliance.

At the end of the financial year, the ATO intensifies its efforts to ensure businesses and individuals adhere to tax regulations. This period sees an increase in compliance checks, making it crucial for you to stay informed about the ATO's focus areas. Understanding these focus areas and implementing strategies to maximise your tax deductions while minimising risks is essential for maintaining financial health and avoiding penalties. In this blog, we delve into the ATO's primary targets and offer practical tips to enhance your tax strategy, ensuring you navigate the end-of-year checks with confidence and compliance.