Instant Asset Write-Off Record Example
Example document for Instant Asset Write-Off Record. Use this as a reference when creating your own.
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Document: Instant Asset Write-Off Record
Example Document
Last updated 7/30/2026
Instant Asset Write-Off Record
Business Name: Smith's Plumbing Services ABN: 12 345 678 901 Financial Year: 2023-2024 Prepared By: John Smith
Asset Details
Date Purchased: 15/08/2023 Supplier Name: Sydney Tools Pty Ltd Supplier ABN: 98 765 432 109 Tax Invoice Number: INV-88392 Description of Asset: 18V Cordless Hammer Drill Kit (Brand: Makita, Model: DHR242Z, Serial: 123456)
Cost Analysis
Total Cost (Inc GST): $550.00 GST Included: $50.00 Cost (Ex GST): $500.00
Usage and Installation
Date First Used / Installed Ready for Use: 15/08/2023 Primary Business Use: Drilling into concrete and masonry for pipe installations Estimated Business Use Percentage: 100%
Deduction Calculation
Total Cost Ex GST: $500.00 Private Use Adjustment: $0.00 Claimable Deduction Amount: $500.00
Evidence
Invoice/Receipt Attached: [X] Yes [ ] No Photo of Asset Attached: [X] Yes [ ] No
Notes
Picked up from warehouse in person. Paid via business debit card.
Declaration: I declare that this asset was purchased for use in the business and the details recorded are true and correct.
Signature: J. Smith Date: 01/07/2024
Notes
This example shows a typical claim by a tradesperson for a tool used 100 percent for business. The cost excludes GST because the business is registered for GST. The date of purchase matches the first use date.
About this Example
Part of the Instant Asset Write-Off Record document collection
Document Type
Instant Asset Write-Off Record
A log used to track eligible business asset purchases to claim the Instant Asset Write-Off tax deduction from the ATO.