BACKING LOCAL SMALL BUSINESSES TO INVEST

BACKING LOCAL SMALL BUSINESSES TO INVEST

Small businesses in Hasluck are set to benefit from additional opportunities to invest in their business and replace or upgrade their assets, with legislation to extend the $20,000 instant asset write-off passing the Parliament.

The legislation delivers on the Coalition Government’s 2018-19 Budget announcement to extend the $20,000 write-off for a further 12 months to 30 June 2019.

Across Australia, there are more than three million small businesses with an annual turnover of less than $10 million that are eligible to access the write-off.

“Whether you’re a gardener purchasing a ride-on lawn mower, a café owner purchasing an industrial dishwasher or a courier purchasing a vehicle, I encourage small businesses in Hasluck to take advantage of the $20,000 instant asset write-off – if they’re not already,” Hon Ken Wyatt MP said.

“By growing the ability of Hasluck small businesses to invest, we grow their ability to employ more Hasluck locals.”

In the 2015-16 Budget, the Coalition Government increased the immediate deductibility threshold from $1,000 to $20,000.

Backing small business – the engine room of our economy – is part of the Coalition Government’s plan for a stronger economy and more jobs.