Free Asset Register Template for Australian Small Businesses (2026)

If you run a small business in Australia, you need an asset register. Your accountant wants one at tax time, the ATO expects you to track depreciating assets, and without one you're guessing at your business's actual worth.

The problem? Most templates you find online are either too complicated (designed for enterprises with 10,000+ assets), too American (wrong tax rules), or too basic (just a list with no depreciation tracking).

So we built one specifically for Australian small businesses.

Download the Free Template

Download Asset Register Template — Excel (.xlsx) Download Asset Register Template — Google Sheets

The template includes:

• Asset tracking with purchase date, price, and location
• Automatic depreciation calculations (both diminishing value and prime cost methods)
• ATO-compliant effective life references
• End-of-financial-year summary for your accountant
• Maintenance and service tracking
• Asset disposal recording

What Is an Asset Register?

An asset register is a record of every business asset you own — from the delivery van to the office laptops to the espresso machine in the break room. It tracks what you bought, when you bought it, what you paid, and what it's worth now.

In Australia, the ATO requires you to track depreciating assets if you're claiming their decline in value as a tax deduction. An asset register is how you do that.

What Goes in an Asset Register?

At minimum, you need:

Field	What It Tracks	Why It Matters
Asset name/description	What the asset is	Identification
Asset number/ID	Unique identifier	Audit trail
Purchase date	When you bought it	Depreciation start date
Purchase price	What you paid	Depreciation base
Effective life	ATO-approved useful life	Depreciation calculation
Depreciation method	Diminishing value or prime cost	Tax deduction amount
Current book value	What it's worth on paper now	Balance sheet accuracy
Location	Where the asset physically is	Stocktake and insurance
Condition	Working, needs repair, disposed	Operational decisions

How to Use the Template

Step 1: List Your Assets

Walk through your business — literally. Check every room, vehicle, storage area, and desk. Anything your business owns that cost more than $300 and will last more than 12 months is likely a depreciating asset.

Common assets small businesses forget:

• Software licenses (if capitalised)
• Website development costs
• Fit-out and leasehold improvements
• Tools and equipment in vehicles
• Phone systems and networking gear

Step 2: Enter Purchase Details

For each asset, record:

• Purchase date — check invoices or bank statements
• Purchase price — including delivery and installation costs (these form part of the asset's cost base)
• Supplier — useful for warranty claims

Step 3: Set Up Depreciation

The template calculates depreciation automatically once you enter:

• Effective life — the ATO publishes effective life tables for most assets. We've included the most common ones in the reference tab
• Method — diminishing value (most common for small business) or prime cost (straight-line)

If you're a small business entity (turnover under $10 million), you may be eligible for the simplified depreciation rules, including the instant asset write-off. Check with your accountant.

Step 4: Maintain It

Set a reminder to update your register when you:

• Buy a new asset
• Sell or dispose of an asset
• Move an asset to a different location
• An asset needs repair or is written off

When a Spreadsheet Stops Working

Spreadsheets work fine when you have 10-20 assets. But they start to break when:

• Multiple people need access — version control becomes a nightmare
• You have 50+ assets — the spreadsheet gets unwieldy, formulas break
• You need location tracking — spreadsheets can't show you where things physically are
• Depreciation gets complex — different methods, different start dates, partial-year calculations
• Your accountant needs reports — exporting and formatting takes hours
• Stocktakes — no way to scan and verify against the register

That's when purpose-built software like Asset Shark makes sense. It does everything the spreadsheet does — plus automated depreciation, team access, maintenance scheduling, and proper reporting — without the formula headaches.

Start with the template. If you outgrow it, Asset Shark is here.

Frequently Asked Questions

Do I legally need an asset register in Australia?

There's no specific law requiring one, but the ATO requires you to keep records of depreciating assets you claim deductions for. An asset register is the standard way to do that. If you're audited, you'll need to show how you calculated your depreciation claims.

What's the instant asset write-off threshold?

For the 2025-26 financial year, small business entities can instantly deduct assets costing less than $20,000 (subject to legislative changes — always check the ATO website). Assets above this threshold are depreciated over their effective life.

Should I include fully depreciated assets?

Yes — keep them in the register until you dispose of them. They still have a physical location, might have insurance value, and your accountant needs to see them for the balance sheet.

How often should I do a stocktake of assets?

At least annually, ideally before end of financial year (June 30). More frequently if you have assets that move between locations or sites.

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Asset Shark helps Australian small businesses track assets, automate depreciation, and keep their accountant happy — without spreadsheets. Get early access →