The $20,000 instant asset write off is continuing for eligible small businesses, giving businesses the ability to immediately deduct the business portion of the cost of eligible assets costing less than $20,000.

But an immediate deduction does not mean receiving $20,000 back.

Before making a purchase based on the tax treatment alone, it is worth understanding how the rules work and whether the expense makes sense for your business.

Who can use the instant asset write off?

The measure applies to eligible small businesses with an aggregated annual turnover of less than $10 million.

The $20,000 threshold applies on a per asset basis. This means an eligible business may be able to immediately deduct multiple eligible assets, provided each asset costs less than the applicable threshold and meets the relevant requirements.

Eligibility and the amount that can be claimed will depend on the business and how the asset is used.

What does an immediate deduction actually mean?

One of the common misunderstandings about the instant asset write off is that the government reimburses the cost of the asset.

It does not.

An eligible deduction reduces the business’s taxable income. The actual tax benefit will depend on the business’s circumstances, including its taxable income and applicable tax rate.

For example, purchasing a $10,000 eligible asset does not mean receiving $10,000 back at tax time.

The asset still needs to make sense for the business

Tax treatment should not be the only reason to make a purchase.

Before spending money on equipment, technology, vehicles or other assets, consider whether the purchase is necessary and whether the business has the cash flow to support it.

Spending money solely to obtain a tax deduction can leave the business worse off if the asset was not needed in the first place.

What about assets costing $20,000 or more?

Assets costing $20,000 or more cannot generally be immediately deducted under the instant asset write off.

For eligible small businesses using simplified depreciation, these assets are generally added to the small business pool and depreciated according to the applicable rules.

The treatment can vary depending on the asset and the circumstances, so it is worth checking before making a significant purchase.

Keep the right records

If you intend to claim a deduction for a business asset, keep records of the purchase and how the asset is used.

Where an asset is used for both business and private purposes, only the business use portion may be deductible.

Good records also make it easier for your accountant to determine the appropriate tax treatment when preparing the business’s return.

Consider the purchase, not just the deduction

The instant asset write off can affect the timing of a tax deduction, but it should not determine whether a business spends money.

Consider whether the asset is needed, how it will be used and what the purchase means for cash flow. Then consider the tax treatment as part of that decision.

If you are considering a significant business purchase and are unsure how it may be treated for tax purposes, speaking with an accountant before committing to the expense can help you understand the implications.

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Victoria’s rental laws have changed considerably over the past year, affecting how properties are advertised, applications are handled, rent is increased and tenancies are ended.

For property owners, the practical question is whether the way your property is currently managed reflects those requirements.

There are also further changes taking effect from 13 October 2026, so now is a reasonable time to check what already applies and what needs to be prepared for.

1. Rental applications

Since 31 March 2026, rental providers and agents have been required to use the prescribed rental application form.

There are also restrictions on the information that can be requested from applicants. Information generally needs to be limited to what is required to assess their suitability, confirm their identity and establish their capacity to pay the advertised rent.

This is not just an administrative requirement. Consumer Affairs Victoria recently took action after identifying unlawful questions on a widely used rental application platform, which were subsequently removed.

2. Rent Increases

Rental providers must give renters at least 90 days’ notice of a rent increase.

The notice must also explain how the proposed increase was calculated. If the property is under a fixed term agreement, rent can only be increased during that term if the agreement allows for it and states how the increase will be calculated.

Before issuing an increase, check that the timing, calculation and required notice are correct.

3. Minimum Property Standards

Rental properties must meet Victoria’s minimum standards when they are advertised or offered for rent, as well as before a renter moves in.

There are currently 15 categories of minimum standards covering areas including bathrooms, electrical safety, heating, locks, ventilation, structural condition and window coverings.

If you are preparing to advertise a property, compliance should therefore be checked before the listing goes live.

4. Ending a tenancy

No fault evictions were banned in Victoria from 25 November 2025.

Rental providers must now have a valid reason to issue a notice to vacate, including when a fixed term agreement ends. Valid reasons can include circumstances such as selling or renovating the property or a renter breaching the agreement.

Property owners considering selling, renovating or making other changes to a rental property should understand the applicable requirements before issuing notice.

5. Prepare for the October changes

Further rental reforms take effect on 13 October 2026.

These include strengthened requirements for bond claims. Rental providers will need to notify renters in advance when making a claim at the end of a rental agreement and provide evidence supporting that claim.

Rental providers will also need to keep sufficient records showing that a property met minimum standards when it was advertised or offered for rent.

Gas and electrical safety checks every two years will also become mandatory for all rental properties, regardless of when the rental agreement commenced.

For property owners, this makes record keeping and compliance documentation increasingly important.

Check how your property is being managed
Not every change will require action from every property owner. What matters is knowing which requirements apply to your property and making sure the appropriate processes are in place.

If you are unsure about your responsibilities or how recent rental law changes affect your property, speaking with a Property Management specialist can help you understand what applies to your circumstances.

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The Reserve Bank of Australia will announce its next cash rate decision on 11 August. Going into the meeting, the cash rate is 4.35%.

For borrowers, attention often turns to whether rates will move and what lenders will do next. But there is a more immediate question worth asking.

What are you currently paying for your home loan?
If you have had the same loan for several years, or if you are not currently in the fix home loan – it may be worth checking the interest rate, fees and features you are paying for and how they compare with other options available.

Start with your actual interest rate
Check the rate currently applied to your loan, rather than the rate you originally signed up for. For variable rate borrowers, the rate may have changed several times since the loan was established. It is also worth checking how your rate compares with the rates your lender currently offers.

A difference in interest rates can affect repayments and the total interest paid over the life of a loan, but the advertised rate should not be considered in isolation.

Check what you are paying in fees
Look at annual package fees, account fees and other ongoing charges associated with the loan.

If you are considering refinancing, there may also be costs involved in closing your existing loan and establishing a new one. Fixed rate borrowers may face additional costs if they refinance before the fixed period ends. These costs should be considered when calculating whether changing loans would actually leave you better off.

Are you using the features included in your loan?
Offset accounts and redraw facilities can be useful, but their value depends on how you use them.

Check which features are included with your loan, whether you use them and whether you are paying additional fees for features you no longer need. The right loan is not necessarily the one with the longest list of features.

Your circumstances may be different now
Your financial position when you first took out the loan may look quite different today. Your income, loan balance, property value or financial priorities may have changed. Property investors may also have experienced changes to rental income, property expenses or their plans for the investment.

These factors can affect which loan options are appropriate for your circumstances.

Refinancing is not always the answer
Finding a lower advertised rate does not automatically mean you should refinance. The potential interest savings need to be compared with switching costs, ongoing fees, loan features and the terms of the new loan.

In some cases, staying with your current lender may make sense. You may also be able to discuss your existing rate with your lender without refinancing.

Look beyond next week’s rate decision
Why RBA decisions matter because the cash rate influences interest rate, including mortgage rates, next week’s decision only affects the minimum amount a borrower pays. RBA decision often has little influence over the loan products at the features and flexibility such as offsetting account and withdraw capability.

So rather than trying to predict the next move in interest rates, it can be more useful to understand your current loan product and whether it still suits or your circumstances.

If you are unsure where to start, speaking with a mortgage advisor can help you compare your current loan with the options available and understand the costs involved.

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