Instant Asset Write Off

2017/18 Financial Year

Install Sensing+ for Agriculture before the end of financial year 

In order to take advantage of the instant asset write-off in this financial year, you must have purchased and installed Sensing+ for Agriculture by 30 June 2018.

This scheme could mean a significant tax benefit for small to medium-sized growers, as assets are otherwise added to the small businesses asset pool and depreciated as normal over time. 

For details concerning the instant write-off, please refer to and consult your accountant or other professional adviser. 

Find out more about the ATO’s Instant Asset Write Off, and whether you are able to deduct the full cost of Sensing+ for Agriculture. 
Under the ATO's immediate asset write-off rules for small businesses that have turnover of less than $10m, you may be eligible for major tax incentives this financial year if you purchase and install Sensing+ for Agriculture by 30 June 2018.

Download an info pack now to find out more information!
What is the cost of an asset?

The cost of an asset includes both the amount you paid for it, plus additional amounts you spent on transportation or installation. The cost also includes amounts you spent on improving the asset.

Is the cost inclusive of GST?

If you are registered for GST, your instant asset write-off threshold is $20,000 exclusive of GST. If you are not registered for GST, your instant asset write-off threshold is $20,000 inclusive of GST.
Personal use vs. business use

If you purchase an asset intended for both business and personal use, you can only claim that proportion that is for business use to earn assessable income.

For example, if you purchase a vehicle for $19,000 that you estimate will be used for business purposes 50% of the time, you can only claim $9,500.

However, regardless of the proportion of business to personal use, the asset as a whole must always fall under that $20,000 threshold. So if you were to instead purchase a vehicle for $30,000, you would not be able to claim it as part of the instant asset write-off – even if the value to the business would be $15,000, the whole asset is still above the $20,000 threshold.
Illustrative Example: Greg's Apples

Greg owns a apple orchard in Victoria, of about 20 hectares, which turns over around $1.5 million per year.

In April 2018, as the harvest season winds down, Greg starts looking at on-farm technology that he can purchase before 30 June, as he’s eager to maximise his yield for next season and take advantage of the instant write-off rules for the current financial year. He checks with his accountant who confirms he is eligible for the instant write-off.

He decides to purchase one Sensing+ for Agriculture unit for $15,000 – comprising a communications gateway, on-farm weather node with sensors, professional installation, and 12 months of software and support.

Greg's system is installed in early June. As it will be 100% used for business purposes, Greg is eligible to claim the total $15,000 cost as an immediate asset write-off.
Purchase and install Sensing+ for Agriculture before 30 June 
End-to-end farm sensing, analytics & apps, for faster, more informed decision-making.