As EOFY approaches, many business owners start revisiting purchases they’ve been thinking about for months, sometimes longer.
Equipment upgrades. Vehicle replacements. New machinery. Better systems.
And often, EOFY becomes the natural moment where those decisions either get made… or pushed out again.
If you’ve been in that “we should probably do this soon” stage, this is the time of year where it’s worth taking a closer look.
For the 2025–26 financial year, the Instant Asset Write-Off (IAWO) threshold is set at $20,000 per asset, which may allow eligible businesses to claim an immediate deduction on qualifying purchases (depending on your structure and circumstances, always confirm with your accountant).
So let’s break this down on how it works, what qualifies, and what you need to be aware of if you’re going to take action before June 30.
What assets qualify before 30 June?
Under the Instant Asset Write-Off rules, eligible businesses may be able to deduct the full cost of a qualifying asset in the same financial year it is first used or installed ready for use.
For 2025–26, this applies to assets up to $20,000 per asset, depending on eligibility criteria and turnover thresholds.
Here are the types of assets we typically see fall under this:
- Cars, utes and vans
- Trucks and heavy vehicles
- Earthmoving equipment
- Agricultural machinery
- Manufacturing equipment
- Medical and dental fit-outs
- IT and technology equipment
- Trailers and attachments
⚠️ A really important point here: the asset must be delivered AND installed ready for use by 30 June 2026. If it’s sitting at the dealership, waiting on a delivery slot, or still being fitted out after that date, it generally won’t qualify for this financial year.
💡 And just a reminder, it’s always worth speaking with your accountant first. They’ll confirm whether your business structure and turnover make you eligible, and what rules apply in your situation.
How fast can finance actually be approved?
If you’re looking to move quickly before EOFY, timing really matters here.
For straightforward deals with clean financials, approvals can often happen within 24–48 hours. Settlement usually follows within 1–3 business days once approved.
A few things can speed things up (or slow them down):
Deal size:
Smaller deals (generally under $150K) with strong financials can often be turned around very quickly, sometimes even same day.
Having your paperwork ready:
This is the big one. The fastest approvals always come from clients who have everything prepared upfront.
EOFY demand:
June is the busiest month of the year for asset finance. Lender choice matters, and knowing who is actually moving quickly right now makes a real difference.
Delivery timing:
It’s important to remember that finance approval isn’t the final step. The asset still needs to be delivered and ready for use before 30 June.
⚠️ A quick reality check:
If you’re only just starting to think about a purchase after around 20 June, and the asset isn’t already ordered, it may be tight to get everything completed in time. Some deals can still work, but not all.
What documents do you need ready?
If you want things to move quickly, getting your documents ready upfront is the easiest win.
For lending on items less than $250,000, typically we’ll need:
- Confirmation ABN details be in force > 2 years (and trust deed if applicable)
- Supplier quote or invoice for the asset
- Clear Credit History Confirmation
- Driver’s licence for all directors/guarantors
- Property ownership details (to confirm property ownership if applicable)
For lending on items greater than $250,000, typically, we’ll need:
- Last 2 years’ business tax returns (or an accountant’s letter if not available) and/or;
- Last 2 years’ financial statements (P&L and balance sheet) and/or;
- Last 3 months’ business bank statements
- Driver’s licence for all directors/guarantors
- Confirmation ABN details be in force > 2 years (and trust deed if applicable)
- Supplier quote or invoice for the asset
- Property ownership details (to confirm property ownership if applicable)
💡 In some cases, low-doc options may be available, using bank statements and an accountant’s declaration instead of full financials.
If you’re unsure, it’s worth asking early so we can guide you on the fastest pathway.
The most common EOFY mistake business owners make
Every year, we see otherwise well-prepared businesses miss out on EOFY benefits for one simple reason:
They assume that once finance is approved, they’re covered.
But the key rule is actually about timing of use, not approval.
To qualify, the asset must be installed and ready for use by 30 June.
And this is where things can go wrong:
- The asset arrives, but still needs minor modifications
- Registration or commissioning gets delayed
- The supplier can’t physically deliver before EOFY
And unfortunately, even a small delay can push everything into the next financial year.
✔ The best way to avoid this:
Get written confirmation from your supplier confirming delivery and commissioning dates before you proceed. It’s a simple step that protects the outcome.
Already bought equipment? You may still have options
If you’ve purchased equipment or vehicles in the last 3–6 months using cash, there may still be ways to improve your cash flow position.
One option worth knowing about is sale and leaseback.
Here’s how it works in simple terms:
- The finance company purchases the asset from you at market value
- You lease it back under a structured agreement
- You receive the cash value (often 80–100% of the asset value)
- You continue using the asset exactly as you are now
💡 For example:
A $120,000 excavator purchased earlier this year could potentially release $90,000–$110,000 back into your business, sometimes within days.
It’s not something every business is aware of, but it can be a useful way to free up capital heading into a new financial year.
Final thoughts: EOFY is about timing as much as tax
As we head into the final month of EOFY 2026, many businesses are not just thinking about tax, they’re thinking about timing, cash flow, and upcoming plans for FY2027.
EOFY often becomes the moment where decisions either get made… or delayed again.
If there’s an asset you’ve been considering, or something you’ve been meaning to revisit, now is the time to understand whether it makes sense to act before June 30.
Speak to Ironbark Group
If you want to talk through your options or understand what’s realistically possible before EOFY, we’re here to help.
We’ll help you look at:
- Whether your purchase can be structured in time
- What finance options are available
- How it fits into your broader lending and cash flow position