The 2025 Federal Budget has brought to an end the decade-long ability of eligible small businesses to claim artwork purchases up to $20,000 as a 100% tax write-off.
From that date, depreciation for tax purposes will be calculated using either the ATO tax tables setting out the useful lives of assets or by resorting to the pooling rules. That will effectively reduce the amount a small business can immediately write off an asset purchase from $20,000 to $1000 for the 2025/26 financial year and beyond.
