IAWO Scheme for Small Businesses: Claim Deductions Before 30 June 2025
The IAWO scheme for small businesses—a $20,000 Instant Asset Write-Off—will expire on 30 June 2025. If you’re planning to purchase equipment or business assets, now is the time to act. Making the most of this scheme before the cutoff date means you can still claim deductions in this financial year.
Eligible small businesses can claim deductions for multiple assets, provided each asset individually costs less than $20,000.
Who Qualifies for the IAWO Scheme?
To be eligible for the IAWO scheme for small businesses, you must meet the following criteria:
- Your business’ aggregated turnover must be under $10million
- The asset must be first used, or installed and ready for use, between 1 July 2024 and 30 June 2025
- The cost of the eligible asset must be under $20,000 (per asset)
- Both new and second-hand assets are eligible
At Pacific Finance, we offer low doc and no financial loan options to help you move quickly. These finance solutions require minimal paperwork—ideal if you’re still sorting through your documentation.
Ready to Take Advantage of the IAWO?
If you’re looking to purchase equipment and write it off this financial year, contact your Pacific Finance Broker today. We’re here to help you take full advantage of the IAWO scheme for small businesses before it ends on 30 June 2025.
Disclaimer: This information is for general information purposes only. The information contained herein does not constitute financial or professional advice or a recommendation. It has not been prepared with reference to your financial circumstances or business and should not be relied on as such. You should seek your own independent financial, legal and taxation advice as to whether or not this information is appropriate for you.