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Increase in the instant asset write-off a boost for small business
29 Jan 2019 | Media Release
Australia’s largest and most representative business network, the Australian Chamber of Commerce and Industry welcomes the Prime Minister’s announcement today of an increase in the instant asset write-off to $25,000 for small business and an extension of its application to June 2020.
“The increase in the instant asset write-off to $25,000 will further stimulate small business investment, which will flow through to stronger economic and employment growth over the coming year,” Australian Chamber CEO, James Pearson, said today.
‘’This announcement recognises that small businesses are major drivers of economic activity.
“Over the past year, the Australian Chamber has called for the instant asset write-off to be permanent for small business.
“Although an extension to 2020 is not a commitment for the measure to be permanent, it is a good start.
“Making the instant asset write-off permanent will encourage longer-term investment planning by small businesses and will support continuous and sustainable business growth.”