Equipment finance runs in four stages: pre-approval (typically inside 24 hours), asset selection, settlement and delivery. For the instant asset write-off, what matters is when the asset is first used or installed ready for use, which must be by 30 June of the income year you claim it in, not when you ordered the truck, the excavator or the trailer. Confirm your own tax position with your accountant.
If you are still weighing up a purchase, this is the practical timeline you need to follow, plus what lenders typically look for.
Why timing matters at EOFY
From 1 July 2026 the $20,000 small business instant asset write-off is permanent for businesses with aggregated turnover under $10 million, for eligible assets costing less than $20,000 (ato.gov.au). For transport, civil, agriculture and earthmoving operators, that is a meaningful tax outcome on a single piece of gear bought under the cap.
Timing is only half of it: documentation and asset selection decide how quickly a lender can move.
The realistic timeline from enquiry to delivery
For an asset to qualify for the instant asset write-off in a given financial year, it must be first used or installed ready for use by 30 June of that year. Working backwards, this is what a clean run looks like.
Stage 1: Pre-approval (24 to 48 hours)
A finance broker submits your ABN, identification and bank statements to suitable lenders. For low doc applications, that is often all that is needed up front. For full doc deals, financials or BAS statements are added. With Equifund, pre-approval typically comes back inside 24 hours and there is no credit check unless you proceed during this stage.
Stage 2: Asset selection and quote (1 to 5 days)
Pre-approval is conditional on the asset. Once you sign the supplier or dealer quote, the finance application is matched to that specific piece of equipment, including VIN, serial number and PPSR check. New equipment from a dealer is usually faster here. Private sale settlements involve a few more verification steps.
Stage 3: Settlement and documentation (2 to 5 days)
Loan contracts are issued, signed, and funds released to the seller. Settlement only moves once every signature, registration document and bank account detail is correct. Small errors at this stage are the most common reason a deal slips past EOFY.
Stage 4: Delivery and installed ready for use (1 to 21 days)
This is the make or break stage. The ATO requires the asset to be installed and ready for use in your business by 30 June, not just paid for. A truck sitting at a dealership awaiting registration on 1 July does not qualify. Earthmoving plant still on a transporter does not qualify. Factor freight, fit-out, ROPS, signage and registration into your timing.
What can stall your equipment finance
These are common issues that delay equipment finance deals:
- Bank statements showing dishonoured payments inside the last 90 days
- ABN active for under 12 months on low doc applications
- ATO debt without a payment plan in place
- Older asset purchases without supporting valuations
- Private sale agreements missing PPSR clearance
- Director identification not yet completed
- Quotes that change after pre-approval, requiring a re-submission
Most of these are fixable in 24 to 72 hours if caught early. Caught late, they push delivery into July.
What lenders look for
Lender appetite shifts with the cash rate environment. The strongest signals lenders typically want to see are:
- Consistent revenue deposits across the last three to six months
- Manageable existing commitments on the PPSR
- An asset that holds value, such as late model trucks, earthmoving plant under ten years old, or commonly traded agricultural machinery
- A clear commercial purpose tied to revenue
- Personal credit files free of recent defaults or judgements
Equifund works with a wide panel of specialist lenders, which means a knockback from one funder rarely ends a deal. Different lenders have very different appetites for ABN age, asset age and industry.
Industry-specific timing notes
Transport and logistics
New prime mover and trailer orders can carry long lead times, so confirm them with the dealer early if registration and delivery before 30 June matter. Used trucks from a dealer or auction can still move faster if finance pre-approval is in place.
Construction and civil contractors
Excavators, skid steers, posi-tracks and tippers are in steady demand from infrastructure work. Stock availability is the bigger constraint, not finance. Pre-approve, then secure a unit.
Agriculture
For broadacre and livestock operators, harvest preparation drives a lot of EOFY buying. Tractors, headers, balers, spreaders and chaser bins are common write-off candidates where the individual asset cost is under the threshold, with anything above depreciated through the normal pool.
Earthmoving
Wheel loaders, dozers, graders and rollers tend to involve longer transport and commissioning windows. Lock in finance early so the transporter can move once the deal settles.
Common questions
How long does equipment finance pre-approval take in Australia?
Most ABN holders receive a pre-approval decision inside 24 to 48 hours. Full settlement on a clean deal typically lands in 5 to 10 business days from accepted quote to funds released.
How early should I arrange equipment finance pre-approval before 30 June?
If you want an asset installed ready for use before 30 June, aim to have pre-approval in place by mid-May for new orders and by mid-June for used assets that are ready to ship.
Does the asset need to be paid for, or used, by 30 June?
The asset must be first used or installed ready for use by 30 June of the income year you want to claim it in. Payment alone is not enough.
Is the $20,000 instant asset write-off permanent?
Yes, the $20,000 instant asset write-off is permanent from 1 July 2026 for small businesses with aggregated turnover under $10 million, for eligible assets costing less than $20,000 (ato.gov.au). Confirm your own tax position with your accountant.
Do I need property as security?
Equipment finance is secured by the asset itself, so no property security is required for most commercial applications.
Equifund works with a wide panel of specialist lenders across Australia. We are a fully licensed broker (ACN 647 510 790, CRN 530270), meaning we work for you, not the bank. Pre-approval typically comes back inside 24 hours, with no credit check unless you proceed. Apply Now →
Sources: ATO, Instant Asset Write-Off. Figures are current at the time of writing and may change.
Disclaimer: This article is intended as general information only and does not constitute financial, tax, or legal advice. Figures and thresholds are current at time of publication and may change. Please consult a qualified financial adviser or accountant before making any financial decisions. Equifund Financial Group Pty Ltd | ACN 647 510 790 | CRN 530270 | Authorised under Australian Credit Licence Number 389328.