From www.pwc.com.au: The $20,000 instant asset write-off for small business entities has been extended until 30 June 2025, allowing businesses with an annual turnover of less than $10 million to deduct the full cost of eligible depreciating assets.

The extension includes a deferral of the ‘lock-out’ rule for those who previously opted out of simplified depreciation rules until the same date.

After 30 June 2025, the deduction threshold will revert to $1,000 unless further extended.