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Labor’s new instant tax write-off policy welcomed by Australian Chamber of Commerce and Industry
13 Mar 2018 | Media Release
The commitment made today by the Federal Labor Opposition to allow all businesses to immediately deduct 20 per cent off any new eligible asset worth more than $20,000 has been welcomed by the Australian Chamber of Commerce and Industry (“Australian Chamber”).
“Business welcomes this commitment from the Opposition – it’s good policy,” Australian Chamber CEO, James Pearson, said today.
“What’s particularly positive is the proposal to make this a permanent feature.
“This is important as policy certainty and policy consistency is critical for business.
“It is timely recognition from the Opposition of the importance of encouraging business to invest.
“Investment by businesses, which are providing jobs to over 80% of Australians in the workforce, is one of the best ways to ensure ongoing, long-term prosperity for all Australians.
“We look forward to further policy announcements that send positive signals to the business community from all sides of politics.”