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New measures for small businesses

Check if your business is eligible for these new measures.

Last updated 29 June 2025

Business tax return amendment period extended

Businesses with an annual aggregated turnover of less than $50 million now have up to 4 years from the date of their tax assessment to request amendments. This applies to assessments for the 2024-25 and later income years.

For more information, see Request an amendment to a business or super tax return.

Claim a deduction on the cost of eligible assets

Available to businesses with an aggregated annual turnover of less than $10 million. If you’re eligible, you may be able to deduct the business portion of eligible assets which cost less than $20,000.

Eligible assets must be first used or installed ready for use, between 1 July 2024 and 30 June 2025. The $20,000 limit will apply on a per asset basis, so you can instantly write off multiple assets.

For more information, see instant asset write-off for eligible businesses.

 

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