EOFY Tax Breaks Are Ending - Last Chance to Claim Artwork Tax Deductions for Your Office:
EOFY Alert: Final Year to Claim Tax Deductions on Office Art
If you’ve been thinking about investing in artwork for your office, now is the time. The 2025 Federal Budget has confirmed the end of a generous tax incentive that’s benefited small businesses for nearly a decade — the Instant Asset Write-off for artwork.
This scheme, which has allowed eligible small businesses to instantly write off artwork purchases up to $20,000, will officially end on 30 June 2025. That means there’s still a window of opportunity to purchase original art for your workspace and claim it as a deduction before the financial year wraps up.
How the Instant Asset Write-Off Works for Art
Under the current legislation, small businesses with an annual turnover of less than $10 million can claim a full deduction for eligible assets under $20,000 — and yes, this includes artwork. The piece must be tangible (sorry, NFTs don’t count), movable, and primarily purchased for your business premises. It also can’t be considered trading stock.
Is Your Business Eligible?
You may qualify for the deduction if:
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Your business has an aggregated turnover of less than $10 million
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The artwork is purchased for use in your business
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It’s installed and ready to use by 30 June 2025
To make sure you tick all the right boxes, we recommend speaking with your accountant before purchasing. You can also find more information via the ATO.
Shop Tax-Deductible Art Before June 30
Whether you’re refreshing a boardroom, adding warmth to a waiting room, or curating a calming space for your team, art can elevate your workplace atmosphere — and until 30 June, it can also reduce your tax bill.
Carina xx