Changes to the Instant Asset Write-Off for Small Businesses

School & Education / Sustainability by Tom Edwards

How to Pay for Solar

The scaled down version from 1 July 2023

The Instant Asset Write-Off incentive is a tax-saving initiative introduced by the Federal Government, which allows eligible small businesses to deduct the full cost of certain assets in the year they are purchased, rather than claiming the cost over a number of years.

The Government has announced that it will reduce the small business immediate asset write-off amount to $20,000 for the period 1 July 2023 to 30 June 2024.


If your business’ turnover is less than $10 million a year, you will be able to immediately deduct the full purchase value of assets less than $20,000.

For assets greater than $20,000, they will need to be placed into a small business pool, and depreciated at 15% in the first income year and 30% each year after this.  We strongly encourage that you speak to your accountant to discuss which depreciation rules apply to your particular circumstances.

Is solar or other energy-efficiency equipment or technology considered as an eligible asset? 

Yes, absolutely. You can utilise this incentive for all all depreciable assets, such as a solar system or solar & storage bundle.  More importantly, the Instant Asset Write-Off can create a cash-flow advantage for many small businesses who have been considering switching to solar.

Why UNIfied? 

At UNIfied, we are here to ensure your renewable energy transition is as efficient and seamless as possible. We are here to help households, businesses and landlords pay less for their electricity bills.

Contact UNIfied today or call 1300 817 847 to achieve greater savings in these precarious times, and start your journey of clean energy living!


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