instant tax write off 2022

In Australia during 2022, the so‑called “instant tax write‑off” effectively operated under Temporary Full Expensing, letting eligible businesses immediately deduct the business portion of most new (and many used) depreciating assets.

If the asset was first used or installed ready for use between 6 Oct 2020 and 30 Jun 2023, you were generally in; car depreciation limits and private‑use adjustments still apply, because of course they do.

It’s great for cash flow, but it doesn’t magically make a ute free—financing costs, losses and carry‑forwards still matter, and eligibility depends on your turnover and the asset.

Keep proper tax invoices and asset records (yes, even when it’s “instant”), and talk to your accountant before buying something shiny “for work”.

Short version: in 2022 many businesses could fully expense eligible assets immediately; specifics vary, so confirm with the ATO guidance and your advisor.