EOFY 2025: Make the Most of the ATO Asset Write-Off Rule with Renown Lending
As the end of the financial year (EOFY) draws closer, small business owners across Australia are turning their attention to the ATO's instant asset write-off scheme—a powerful tax benefit that rewards smart investment in business equipment and tools.
Whether you're in construction, hospitality, logistics, healthcare, agriculture or the creative industries, there’s still time to claim eligible purchases before 30 June and reduce your taxable income for the 2024–25 financial year. But making the most of this policy often requires access to fast, flexible finance—and that's where Renown Lending steps in.
What Is the ATO Instant Asset Write-Off?
The instant asset write-off allows eligible Australian businesses to immediately deduct the business portion of the cost of an asset in the year it is first used or installed ready for use.
For the 2024–25 financial year:
Businesses with an annual turnover of less than $10 million may be eligible.
The write-off threshold for each asset is $20,000 (subject to final ATO legislation).
Multiple assets can be claimed, provided each one is below the threshold.
Assets must be first used or installed ready for use by 30 June 2025.
This tax incentive is designed to support small businesses with cash flow, growth, and investment—by encouraging purchases of essential tools and machinery needed to operate, scale, or replace ageing equipment.
What Kind of Assets Can Be Written Off?
Eligible assets can include:
Vehicles (e.g., work utes, delivery vans, fleet vehicles)
Equipment (e.g., excavators, forklifts, medical diagnostics)
Technology (e.g., POS systems, commercial-grade cameras)
Hospitality assets (e.g., fridges, coffee machines, ovens)
Agricultural machinery (e.g., quad bikes, ride-on mowers)
Note: the asset must be used predominantly for business purposes and meet eligibility criteria set by the ATO.
Why Small Businesses Turn to Renown Lending
While the write-off policy is appealing, the biggest hurdle many small businesses face is accessing funds in time to make qualifying purchases. Traditional banks often take too long to process finance, or simply say “no” if the business doesn’t fit into their rigid lending criteria.
At Renown Lending, we’re changing that.
Our Asset Finance solutions are built specifically for small and medium-sized businesses who need:
Fast decisions (approvals in days, not weeks)
No annual fees
Loan terms up to 7 years
Finance for vehicles, tools, equipment and specialty machinery
Support for businesses trading for 2+ years
We’ve helped countless businesses across Australia—from tradies upgrading their utes to café owners installing new commercial coffee machines—access up to $2 million in flexible funding that allows them to act quickly and confidently.
Why Now Is the Time to Act
The EOFY deadline is 30 June 2025. For your asset to be eligible for the write-off, it must be purchased and in use (or ready for use) before that date. That means:
No delays in financing
No hesitation in applying
No waiting for the bank
With the ATO’s instant asset write-off, every dollar spent is not just a business upgrade—it’s a strategic tax advantage. And with Renown Lending in your corner, it’s easier and faster than ever to make it happen.
Final Thoughts: Partner with Renown Lending Before the Clock Runs Out
Renown Lending exists to help businesses move forward—whether that means buying a new excavator, replacing old tools, or scaling your business fleet.
As EOFY approaches, don’t let finance be the reason you miss out on one of the ATO’s most valuable tax incentives. Speak to us today about how we can tailor a finance solution that gets your asset delivered, installed, and deductible—before June 30.
About Renown Lending:
Renown Lending is one of Australia’s fastest-growing non-bank lenders, providing simple, fast, and flexible business finance. We specialise in asset-backed loans and equipment finance for businesses that may not meet traditional bank criteria. Whether you need to upgrade your ute, expand your hospitality kitchen, or invest in high-value machinery—our team is here to help make it happen.
