If your business is eligible to claim the instant asset write-off you will need to consider the car limit. The car limit is the maximum depreciation expense you can claim for a car.
The car limit applies to the cost of some passenger vehicles i.e. passenger vehicles designed to carry a load less than one tonne and fewer than nine passengers. It does not apply to motorcycles or to vehicles fitted-out for use by people living with a disability.
The car limit is:
$57,581 for the 2019–20 income tax year
$59,136 for the 2020–21 income tax year.
If the car limit applies to your vehicle, you can only claim a deduction for the business portion of the car limit.
To use the instant asset write-off, you must have used your vehicle, or had it delivered and ready for use, between 12 March and 31 December 2020.
When calculating the depreciation amount, if you’re registered for GST and you can claim the full GST credit, exclude the GST amount you paid on the car.
If you’re not registered for GST, include the GST amount you paid on the car.
You can’t claim the excess cost over the car limit under any other depreciation rules.
Reference:
https://www.ato.gov.au/Newsroom/smallbusiness/General/Instant-asset-write-off-and-the-car-limit/