Northern Territory businesses claimed $47.5 million through the federal government's Instant Asset Write-Off scheme in the 2024-25 financial year, the government has said, with new data showing more than 2,200 claims were made across the Territory.
The figures form part of more than 300,700 claims nationally, worth more than $4.3 billion, as small businesses invested in equipment and other assets.
It comes as the government commits $20.5 million to extend Indigenous Business and Employment Hubs, including facilities in Darwin and Alice Springs, which provide business coaching, mentoring, financial services, industry connections and networking opportunities.
More than 3,000 First Nations businesses have been supported through the hubs nationally since 2018.
The government has also increased its Indigenous Procurement Policy target to 3.25 per cent from July 1, 2026, with the target set to rise progressively to four per cent by 2030.
Since 2015, more than 97,000 Commonwealth contracts worth more than $15 billion have been awarded to more than 5,200 First Nations businesses through the policy.
Federal Minister for Indigenous Australians, Malarndirri McCarthy, said First Nations businesses were creating jobs and strengthening local economies.
She said almost two-thirds of jobs available in the First Nations business ecosystem were in rural and remote Australia.
"Economic empowerment and self-determination are fundamental to Closing the Gap, and a strong First Nations business sector has an important role to play in driving that progress," Senator McCarthy said.
The data about the Instant Asset Write-Off has been released as the Territory marks its 30th annual October Business Month, which coincides this year with the 12th national Indigenous Business Month.
The government said small and medium-sized businesses also secured 45,556 Commonwealth contracts in 2024-25, accounting for 52.4 per cent of total contract volume.
Federal Minister for Small Business Anne Aly said the write-off was one of several measures aimed at supporting small businesses.
"Small businesses are part of the fabric of the Northern Territory, creating jobs, supporting families and keeping communities moving," Dr Aly said.
Dr Aly said tradies and construction businesses were among the biggest users of the write-off nationally, while farmers were also using the scheme to purchase equipment.
"October Business Month is a great opportunity to celebrate Territory businesses — but our support for small business is there all year round," she said.
