15 May 2024 · Our Blog - Read The Latest Articles

Making the Most of the $20,000 Instant Asset Write-Off for Business in 2024

Instant Tax Write Offs at Downtown Toyota

As we near the end of the financial year, many small and medium-sized businesses are actively looking for ways to invest in their operations. With the recent government announcement, the $20,000 instant asset write-off has been extended through June 2025, providing a continued opportunity for businesses to upgrade or expand their fleets and other equipment with significant tax advantages.

What is the Instant Asset Write-Off?

The instant asset write-off allows businesses to claim immediate tax deductions on the purchase of eligible assets costing less than $20,000. Originally introduced in 2015, this scheme has undergone several extensions to support businesses during various economic challenges. For the 2024 income year, the government has reaffirmed a fixed threshold of $20,000 for small businesses, applicable to assets first used or installed between July 1, 2023, and June 30, 2024.

Who Can Use the Instant Asset Write-Off?

Eligibility for the instant asset write-off remains targeted at small businesses with the following criteria:

  • Business Operation: Must be actively operating in the 2024 income year.
  • Turnover Limits: Annual turnover must be less than $10 million.
  • Asset Cost: Each asset purchased must cost less than $20,000.
  • Depreciation Rules: Businesses must opt into the simplified depreciation rules for the year they claim the write-off.
  • Usage Requirements: Assets must be first used or installed ready for use within the specified timeframe.

Tips for Buying Business Vehicles

  • New vs. Used Vehicles: Consider what best fits your needs—new vehicles offer the latest technology and full warranties, while used vehicles might be more cost-effective and readily available.
  • Total Ownership Costs: Remember to factor in all expenses, including insurance, maintenance, and operational costs. Only the business use portion of these costs is deductible.
  • Efficient Financing: Getting pre-approved for financing can simplify the purchase process.
  • Future Business Needs: Choose vehicles that meet both your current and future business requirements.
  • Tax Benefits: Remember, purchasing assets such as vehicles can offer significant tax benefits under the instant asset write-off. For detailed advice on how this can benefit your business's tax situation, we recommend speaking with your accountant. You can also review the ATO guidelines for further information. 

Browse Our Current Inventory of Pre-Owned Vehicles

2021  Toyota RAV4 GX SUV (Glacier White) Pre-Owned Car Thumbnail

2021 Toyota RAV4 GX

Type
Pre-Owned Vehicle
Transmission
Constantly Variable Transmission
Kilometres
45,678
VIN
JTMZ43FV90D517368
Stock No.
9848742

$34,888*2

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2021  Citroen C3 Shine Hatch Pre-Owned Car Thumbnail

2021 Citroen C3 Shine

Type
Pre-Owned Vehicle
Transmission
Sports Automatic
Kilometres
17,141
VIN
CF7SXHNVTMT610890
Stock No.
89358

$21,888*2

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2020  Toyota Landcruiser Sahara SUV (Graphite) Pre-Owned Car Thumbnail

2020 Toyota Landcruiser Sahara

Type
Pre-Owned Vehicle
Transmission
Sports Automatic
Kilometres
109,725
VIN
JTMHV05J204317311
Stock No.
89307

$114,888*2

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2017  BMW 2 Series 220i M Sport Coupe (Alpine White) Pre-Owned Car Thumbnail

2017 BMW 2 Series 220i M Sport

Type
Pre-Owned Vehicle
Transmission
Sports Automatic
Kilometres
103,492
VIN
WBA2F32070V688911
Stock No.
89248

$26,888*2

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2015  Honda City VTi-L Sedan (Alabaster Silver) Pre-Owned Car Thumbnail

2015 Honda City VTi-L

Type
Pre-Owned Vehicle
Transmission
Constantly Variable Transmission
Kilometres
92,397
VIN
MRHGM6660GP080136
Stock No.
89267

$15,888*2

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2023  Toyota Corolla Cross GX SUV (Glacier White) Pre-Owned Car Thumbnail

2023 Toyota Corolla Cross GX

Type
Pre-Owned Vehicle
Transmission
Constantly Variable Transmission
Kilometres
22,493
VIN
JTNAAAAB60J001442
Stock No.
89206

$35,888*2

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2020  Ford Ranger XLT Ute Pre-Owned Car Thumbnail

2020 Ford Ranger XLT

Type
Pre-Owned Vehicle
Transmission
Sports Automatic
Kilometres
44,388
VIN
MPBUMFF60LX310775
Stock No.
89301

$48,888*2

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2023  Toyota Corolla Ascent Sport Hybrid Sedan (Saturn Blue) Pre-Owned Car Thumbnail

2023 Toyota Corolla Ascent Sport Hybrid

Type
Pre-Owned Vehicle
Transmission
Constantly Variable Transmission
Kilometres
23,107
VIN
JTDBC3FE60J009221
Stock No.
89217

$34,888*2

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2018  Nissan Navara RX Cab Chassis (Polar White) Pre-Owned Car Thumbnail

2018 Nissan Navara RX

Type
Pre-Owned Vehicle
Transmission
Manual
Kilometres
87,671
VIN
MNTDB2D23A0003595
Stock No.
89338

$21,888*2

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2017  Holden Colorado LS Cab Chassis (Summit White) Pre-Owned Car Thumbnail

2017 Holden Colorado LS

Type
Pre-Owned Vehicle
Transmission
Sports Automatic
Kilometres
122,786
VIN
MMU148DK0JH625686
Stock No.
89211

$27,888*2

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2020  Suzuki Vitara SUV (Cosmic Black) Pre-Owned Car Thumbnail

2020 Suzuki Vitara

Type
Pre-Owned Vehicle
Transmission
Sports Automatic
Kilometres
40,250
VIN
TSMLYD21S00902690
Stock No.
89288

$22,888*2

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2023  Toyota Corolla Ascent Sport Sedan (Frosted White) Pre-Owned Car Thumbnail

2023 Toyota Corolla Ascent Sport

Type
Pre-Owned Vehicle
Transmission
Constantly Variable Transmission
Kilometres
145,172
VIN
JTDB43CE50J103964
Stock No.
89218

$31,888*2

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2020  MG HS Vibe SUV (Surfing Blue) Pre-Owned Car Thumbnail

2020 MG HS Vibe

Type
Pre-Owned Vehicle
Transmission
Sports Automatic Dual Clutch
Kilometres
80,616
VIN
LSJA24U94LN017145
Stock No.
89225

$18,888*2

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2022  Kia Sportage GT-Line SUV Pre-Owned Car Thumbnail

2022 Kia Sportage GT-Line

Type
Pre-Owned Vehicle
Transmission
Sports Automatic Dual Clutch
Kilometres
29,394
VIN
KNAPX81BWN7078814
Stock No.
89199

$46,888*2

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2022  Ford Ranger Raptor Ute Pre-Owned Car Thumbnail

2022 Ford Ranger Raptor

Type
Pre-Owned Vehicle
Transmission
Sports Automatic
Kilometres
18,927
VIN
MPBCMFE10NX449548
Stock No.
89346

$84,888*2

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2021  Ford Ranger XLS Ute (Shadow Black) Pre-Owned Car Thumbnail

2021 Ford Ranger XLS

Type
Pre-Owned Vehicle
Transmission
Sports Automatic
Kilometres
25,308
VIN
MNAUMFF50MW177719
Stock No.
89322

$51,888*2

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2021  Tesla Model 3 Long Range Sedan Pre-Owned Car Thumbnail

2021 Tesla Model 3 Long Range

Type
Pre-Owned Vehicle
Transmission
Reduction Gear
Kilometres
57,011
VIN
LRW3F7EK7MC405529
Stock No.
89230

$50,888*2

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2020  Kia Sorento GT-Line SUV (Blue) Pre-Owned Car Thumbnail

2020 Kia Sorento GT-Line

Type
Pre-Owned Vehicle
Transmission
Sports Automatic Dual Clutch
Kilometres
76,381
VIN
KNARH81BWM5069432
Stock No.
89237

$46,888*2

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2020  Toyota RAV4 Cruiser SUV (Saturn Blue) Pre-Owned Car Thumbnail

2020 Toyota RAV4 Cruiser

Type
Pre-Owned Vehicle
Transmission
Constantly Variable Transmission
Kilometres
90,209
VIN
JTMDW3FV30D081105
Stock No.
89279

$44,888*2

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2016  Toyota Corolla Hybrid Hatch (Wildfire) Pre-Owned Car Thumbnail

2016 Toyota Corolla Hybrid

Type
Pre-Owned Vehicle
Transmission
Constantly Variable Transmission
Kilometres
68,875
VIN
JTNKN3JE60J500904
Stock No.
89254

$23,888*2

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2020  Mitsubishi ASX GSR SUV (Black) Pre-Owned Car Thumbnail

2020 Mitsubishi ASX GSR

Type
Pre-Owned Vehicle
Transmission
Constantly Variable Transmission
Kilometres
70,456
VIN
JMFXTGA5WLU002243
Stock No.
89269

$27,888*2

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2021  Hyundai i30 Active Hatch (Fiery Red) Pre-Owned Car Thumbnail

2021 Hyundai i30 Active

Type
Pre-Owned Vehicle
Transmission
Sports Automatic
Kilometres
88,870
VIN
KMHH351EMMU161212
Stock No.
89227

$22,888*2

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2021  Hyundai i30 Active Hatch (Intense Blue) Pre-Owned Car Thumbnail

2021 Hyundai i30 Active

Type
Pre-Owned Vehicle
Transmission
Sports Automatic
Kilometres
80,416
VIN
KMHH351EMMU162673
Stock No.
89228

$22,888*2

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2023  Toyota C-HR GXL SUV (Hornet Yellow) Pre-Owned Car Thumbnail

2023 Toyota C-HR GXL

Type
Pre-Owned Vehicle
Transmission
Constantly Variable Transmission
Kilometres
24,784
VIN
JTNKY3BX801033346
Stock No.
89207

$34,888*2

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2013  Ford Fiesta Trend Hatch (Aurora Blue) Pre-Owned Car Thumbnail

2013 Ford Fiesta Trend

Type
Pre-Owned Vehicle
Transmission
Sports Automatic Dual Clutch
Kilometres
115,291
VIN
MNB8XXARJ8DE21195
Stock No.
89263

$11,888*2

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2020  Toyota Corolla SX Hybrid Hatch (Eclectic Blue) Pre-Owned Car Thumbnail

2020 Toyota Corolla SX Hybrid

Type
Pre-Owned Vehicle
Transmission
Constantly Variable Transmission
Kilometres
79,129
VIN
JTNK93BE403021436
Stock No.
89343

$29,888*2

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2019  Nissan X-TRAIL ST-L SUV Pre-Owned Car Thumbnail

2019 Nissan X-TRAIL ST-L

Type
Pre-Owned Vehicle
Transmission
Constantly Variable Transmission
Kilometres
62,000
VIN
JN1TBAT32A0062962
Stock No.
89341

$26,888*2

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2015  Mazda 3 Neo Sedan (Blue) Pre-Owned Car Thumbnail

2015 Mazda 3 Neo

Type
Pre-Owned Vehicle
Transmission
Sports Automatic
Kilometres
53,466
VIN
JM0BM527810185905
Stock No.
89314

$17,888*2

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2021  Ford Ranger Wildtrak Ute Pre-Owned Car Thumbnail

2021 Ford Ranger Wildtrak

Type
Pre-Owned Vehicle
Transmission
Sports Automatic
Kilometres
57,011
VIN
MPBUMFF60MX330305
Stock No.
89231

$49,888*2

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2018  Nissan Navara SL Ute (Deep Sapphire) Pre-Owned Car Thumbnail

2018 Nissan Navara SL

Type
Pre-Owned Vehicle
Transmission
Sports Automatic
Kilometres
91,167
VIN
MNTCB4D23A0053975
Stock No.
89278

$32,888*2

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2018  Isuzu D-MAX LS-M Ute (Magnetic Red) Pre-Owned Car Thumbnail

2018 Isuzu D-MAX LS-M

Type
Pre-Owned Vehicle
Transmission
Manual
Kilometres
76,979
VIN
MPATFS85JJT003590
Stock No.
89245

$39,888*2

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2023  Toyota Corolla Cross GX SUV (Glacier White) Pre-Owned Car Thumbnail

2023 Toyota Corolla Cross GX

Type
Pre-Owned Vehicle
Transmission
Constantly Variable Transmission
Kilometres
20,186
VIN
JTNAAAAB50J001819
Stock No.
89081

$35,888*2

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2014  Mitsubishi Mirage ES Hatch (White) Pre-Owned Car Thumbnail

2014 Mitsubishi Mirage ES

Type
Pre-Owned Vehicle
Transmission
Constantly Variable Transmission
Kilometres
138,385
VIN
MMAXTA03AFH000841
Stock No.
89246

$11,888*2

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2023  Toyota Corolla Cross GX SUV (Glacier White) Pre-Owned Car Thumbnail

2023 Toyota Corolla Cross GX

Type
Pre-Owned Vehicle
Transmission
Constantly Variable Transmission
Kilometres
14,112
VIN
JTNAAAAB20J002524
Stock No.
89221

$35,888*2

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2023  Toyota Corolla Cross GX SUV (Glacier White) Pre-Owned Car Thumbnail

2023 Toyota Corolla Cross GX

Type
Pre-Owned Vehicle
Transmission
Constantly Variable Transmission
Kilometres
17,569
VIN
JTNAAAAB80J001944
Stock No.
89219

$37,888*2

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2015  Isuzu MU-X LS-T SUV Pre-Owned Car Thumbnail

2015 Isuzu MU-X LS-T

Type
Pre-Owned Vehicle
Transmission
Sports Automatic
Kilometres
49,924
VIN
MPAUCS85GFT006341
Stock No.
89304

$37,888*2

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2023  Toyota C-HR GXL SUV (Hornet Yellow) Pre-Owned Car Thumbnail

2023 Toyota C-HR GXL

Type
Pre-Owned Vehicle
Transmission
Constantly Variable Transmission
Kilometres
25,946
VIN
JTNKY3BX101033382
Stock No.
89386

$34,888*2

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2017  Suzuki Swift GLX Navigator Hatch Pre-Owned Car Thumbnail

2017 Suzuki Swift GLX Navigator

Type
Pre-Owned Vehicle
Transmission
Automatic
Kilometres
92,680
VIN
JSAAZC83S00116261
Stock No.
89253

$17,888*2

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2020  Nissan X-TRAIL ST SUV Pre-Owned Car Thumbnail

2020 Nissan X-TRAIL ST

Type
Pre-Owned Vehicle
Transmission
Constantly Variable Transmission
Kilometres
45,064
VIN
JN1TBAT32A0069283
Stock No.
89345

$28,888*2

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2014  Mazda CX-9 Luxury SUV (Crystal White Pearl) Pre-Owned Car Thumbnail

2014 Mazda CX-9 Luxury

Type
Pre-Owned Vehicle
Transmission
Sports Automatic
Kilometres
73,015
VIN
JM0TB10A5F0424710
Stock No.
89339

$19,888*2

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2022  Hyundai Kona Active SUV (Blue) Pre-Owned Car Thumbnail

2022 Hyundai Kona Active

Type
Pre-Owned Vehicle
Transmission
Constantly Variable Transmission
Kilometres
16,732
VIN
KMHK281BTNU873187
Stock No.
89361

$26,888*2

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2021  Mazda CX-30 G20 Pure SUV Pre-Owned Car Thumbnail

2021 Mazda CX-30 G20 Pure

Type
Pre-Owned Vehicle
Transmission
Sports Automatic
Kilometres
82,258
VIN
JM0DM2W7A00106005
Stock No.
89370

$25,888*2

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2017  Toyota Corolla Ascent Sport Hatch (Glacier White) Pre-Owned Car Thumbnail

2017 Toyota Corolla Ascent Sport

Type
Pre-Owned Vehicle
Transmission
Constantly Variable Transmission
Kilometres
78,606
VIN
JTNKU3JE50J558036
Stock No.
89363

$19,888*2

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2015  Toyota Hilux SR5 Ute (Graphite) Pre-Owned Car Thumbnail

2015 Toyota Hilux SR5

Type
Pre-Owned Vehicle
Transmission
Sports Automatic
Kilometres
141,325
VIN
MR0HA3CD900700892
Stock No.
89255

$42,888*2

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2023  Toyota GR86 GTS Coupe (White Liquid) Pre-Owned Car Thumbnail

2023 Toyota GR86 GTS

Type
Pre-Owned Vehicle
Transmission
Sports Automatic
Kilometres
9,877
VIN
JF1ZN8K72PG004434
Stock No.
89247

$46,888*2

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2015  Hyundai Elantra SE Sedan Pre-Owned Car Thumbnail

2015 Hyundai Elantra SE

Type
Pre-Owned Vehicle
Transmission
Manual
Kilometres
98,495
VIN
KMHDH41ELGU596755
Stock No.
89260

$12,888*2

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2020  Toyota Hilux SR Cab Chassis (Glacier White) Pre-Owned Car Thumbnail

2020 Toyota Hilux SR

Type
Pre-Owned Vehicle
Transmission
Sports Automatic
Kilometres
80,129
VIN
MR0KA3CD201253550
Stock No.
89340

$44,888*2

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2021  Mercedes-Benz A-Class A180 Sedan Pre-Owned Car Thumbnail

2021 Mercedes-Benz A-Class A180

Type
Pre-Owned Vehicle
Transmission
Sports Automatic Dual Clutch
Kilometres
54,652
VIN
W1K1771842J315592
Stock No.
89357

$37,888*2

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2020  Toyota Hilux SR Ute (Glacier White) Pre-Owned Car Thumbnail

2020 Toyota Hilux SR

Type
Pre-Owned Vehicle
Transmission
Sports Automatic
Kilometres
36,740
VIN
MR0KA3CD601245774
Stock No.
89212

$48,888*2

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2022  Toyota Hilux Workmate Cab Chassis (Glacier White) Pre-Owned Car Thumbnail

2022 Toyota Hilux Workmate

Type
Pre-Owned Vehicle
Transmission
Sports Automatic
Kilometres
19,966
VIN
MR0CX3CB004339598
Stock No.
89280

$32,888*2

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2020  Toyota Landcruiser Sahara SUV (Crystal Pearl) Pre-Owned Car Thumbnail

2020 Toyota Landcruiser Sahara

Type
Pre-Owned Vehicle
Transmission
Sports Automatic
Kilometres
86,871
VIN
JTMHV05JX04320568
Stock No.
89313

$108,888*2

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2022  Subaru Forester 2.5i Sport SUV (Magnetite Grey) Pre-Owned Car Thumbnail

2022 Subaru Forester 2.5i Sport

Type
Pre-Owned Vehicle
Transmission
Constantly Variable Transmission
Kilometres
12,390
VIN
JF2SK9KL5PG100769
Stock No.
89282

$43,888*2

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2020  Mazda CX-9 Touring SUV (Snowflake White Pearl) Pre-Owned Car Thumbnail

2020 Mazda CX-9 Touring

Type
Pre-Owned Vehicle
Transmission
Sports Automatic
Kilometres
30,852
VIN
JM0TC4WLA00411862
Stock No.
89268

$39,888*2

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2018  Toyota Camry Ascent Sedan (Lunar Blue) Pre-Owned Car Thumbnail

2018 Toyota Camry Ascent

Type
Pre-Owned Vehicle
Transmission
Sports Automatic
Kilometres
82,084
VIN
JTNBF3HKX03018966
Stock No.
89378

$24,888*2

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2020  Toyota Camry Ascent Sedan (Glacier White) Pre-Owned Car Thumbnail

2020 Toyota Camry Ascent

Type
Pre-Owned Vehicle
Transmission
Constantly Variable Transmission
Kilometres
139,781
VIN
JTNB23HK003063569
Stock No.
89241

$27,888*2

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2021  Volvo XC40 T4 Inscription SUV (Black) Pre-Owned Car Thumbnail

2021 Volvo XC40 T4 Inscription

Type
Pre-Owned Vehicle
Transmission
Sports Automatic
Kilometres
74,830
VIN
LYVXZAKACML536037
Stock No.
89235

$39,888*2

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2022  Toyota Kluger GX SUV (Eclipse Black) Pre-Owned Car Thumbnail

2022 Toyota Kluger GX

Type
Pre-Owned Vehicle
Transmission
Sports Automatic
Kilometres
21,712
VIN
5TDLD3AH20S013501
Stock No.
89385

$47,888*2

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2018  Honda Civic Type R Hatch (Championship White) Pre-Owned Car Thumbnail

2018 Honda Civic Type R

Type
Pre-Owned Vehicle
Transmission
Manual
Kilometres
87,312
VIN
SHHFK8730JU600283
Stock No.
89294

$46,888*2

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2019  Mitsubishi Triton GLS Premium Ute Pre-Owned Car Thumbnail

2019 Mitsubishi Triton GLS Premium

Type
Pre-Owned Vehicle
Transmission
Sports Automatic
Kilometres
88,435
VIN
MMAJLKL10KH006771
Stock No.
89259

$41,888*2

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2022  Mitsubishi Triton Sport Edition Ute (White Diamond) Pre-Owned Car Thumbnail

2022 Mitsubishi Triton Sport Edition

Type
Pre-Owned Vehicle
Transmission
Sports Automatic
Kilometres
9,502
VIN
MMAJLKL10PH001496
Stock No.
89368

$49,888*2

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2020  Toyota 86 GTS Coupe (Ignition Red) Pre-Owned Car Thumbnail

2020 Toyota 86 GTS

Type
Pre-Owned Vehicle
Transmission
Manual
Kilometres
49,238
VIN
JF1ZN6K81LG061051
Stock No.
89244

$36,888*2

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2022  Mazda BT-50 XTR Ute (Grey) Pre-Owned Car Thumbnail

2022 Mazda BT-50 XTR

Type
Pre-Owned Vehicle
Transmission
Sports Automatic
Kilometres
23,189
VIN
MP2TFS40JNT029130
Stock No.
89300

$49,888*2

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2014  Volvo XC60 T5 Luxury SUV (White) Pre-Owned Car Thumbnail

2014 Volvo XC60 T5 Luxury

Type
Pre-Owned Vehicle
Transmission
Sports Automatic
Kilometres
95,185
VIN
YV1DZ40CDF2648702
Stock No.
89275

$18,888*2

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2021  Hyundai Kona Active SUV (Ignite Flame) Pre-Owned Car Thumbnail

2021 Hyundai Kona Active

Type
Pre-Owned Vehicle
Transmission
Constantly Variable Transmission
Kilometres
85,198
VIN
KMHK281BTMU727641
Stock No.
89204

$23,888*2

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2020  Toyota RAV4 GX SUV (Glacier White) Pre-Owned Car Thumbnail

2020 Toyota RAV4 GX

Type
Pre-Owned Vehicle
Transmission
Constantly Variable Transmission
Kilometres
75,079
VIN
JTMZ43FV90D042434
Stock No.
89306

$32,888*2

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2021  Kia Stonic S SUV (Perennial Grey) Pre-Owned Car Thumbnail

2021 Kia Stonic S

Type
Pre-Owned Vehicle
Transmission
Automatic
Kilometres
83,463
VIN
KNADA814MN6622066
Stock No.
89234

$19,888*2

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2015  Toyota Corolla Ascent Sport Hatch (Blue Gem) Pre-Owned Car Thumbnail

2015 Toyota Corolla Ascent Sport

Type
Pre-Owned Vehicle
Transmission
Constantly Variable Transmission
Kilometres
54,839
VIN
JTNKU3JE60J097641
Stock No.
89273

$19,888*2

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2023  Toyota Corolla Ascent Sport Sedan (Frosted White) Pre-Owned Car Thumbnail

2023 Toyota Corolla Ascent Sport

Type
Pre-Owned Vehicle
Transmission
Constantly Variable Transmission
Kilometres
17,839
VIN
JTDB43CE50J103091
Stock No.
89223

$31,888*2

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2019  Toyota RAV4 GXL SUV (Glacier White) Pre-Owned Car Thumbnail

2019 Toyota RAV4 GXL

Type
Pre-Owned Vehicle
Transmission
Constantly Variable Transmission
Kilometres
65,615
VIN
JTMW43FVX0D006500
Stock No.
89347

$35,888*2

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