How the $20,000 Instant Asset Write-Off Can Help You Upgrade Your Workplace Safety

The federal government’s $20,000 instant asset write-off has been made a permanent feature in the tax system for each financial year.  

WHS compliance isn’t optional. If your business turns over less than $10 million, now may be the perfect time to do a safety upgrade before the end of the financial year.  

The instant asset write-off permits eligible businesses to claim an immediate tax deduction for the business portion of any qualifying asset costingless than $20,000 (excluding GST) that is purchased and installed ready for use prior to 30 June 2026 (EOFY).  

Before getting started, it’s important to note: 

• The $20,000 limit applies to each individual asset, so you could potentially deduct multiple separate safety upgrades; 

• The asset should be first used or installed ready for use before 30 June 2026; and 

• Your business needs an aggregated turnover of less than $10 million.  

Remember: If you place your order in June, but install it in July, it may not qualify for this financial year. Give us a call so we can help you plan your project.  

If your safety installation comes in under $20,000, you can likely claim it in full this financial year.  

Here are two examples of how to utilise the incentive and upgrade safety in your workplace: 

✔ Solve pedestrian and forklift separation in high-impact zones.    

What to purchase?  

You could purchase up to 60 metres of W-Beam Guardrail (including rail, posts, end terminals, and fixings).  

Heavy-Duty W-Beam Guardrail is a versatile asset-protection and pedestrian-safety barrier, particularly appropriate for areas within a facility that require separation between pedestrians and forklifts.  

This type of project typically remains within the $20,000 threshold and qualifies as a single-project claim. 

Please note these figures are examples only. Exact costs will depend on configuration, site conditions, and installation requirements. Please download a quote from our website to get an accurate amount. 

If you need help, give us a call! We can assist you in determining your safety upgrade requirements and provide you with a comprehensive quotation for consultation with your accountant prior to the conclusion of the financial year. Give us a call on 1300 807 525 or download a quote online.  

Disclaimer: The information provided in this article is general in nature and does not constitute financial, tax, or legal advice. You should seek advice tailored to your individual circumstances from a qualified financial advisor or tax professional before making any purchase decisions. For full details, visit the ATO website: https://www.ato.gov.au/about-ato/new-legislation/in-detail/businesses/small-business-support-20000-dollar-instant-asset-write-off.