The amount you can write-off will depend on when the asset was purchased and the associated threshold amount.
From 7.30pm (AEDT) on 2 April 2019 to 11 March 2020 the Government allows businesses with an annual turnover of less than $50 million to immediately write-off (expense) any purchases of items $30,000 and under.
From 12 March 2020 until 31 December 2020, as a result of the Coronavirus pandemic, the Government announced changes to the instant asset write-off: the threshold amount for each asset is now $150,000 (up from $30,000), and eligibility has been expanded to cover businesses with an aggregated turnover of less than $500 million (up from $50 million).
If you buy an asset that comes under the threshold, you can claim the business portion of the asset’s use in your tax return for that financial year. You can claim a deduction for multiple assets as long as the cost of each individual asset is less than the relevant threshold.