Backing South West small businesses to invest

Member for Forrest Nola Marino said South West small businesses 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 Morrison Government’s 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 South West small businesses to take advantage of the $20,000 instant asset write-off – if they’re not already,” Mrs Marino said.

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

In the 2015-16 Budget, the 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 Government’s plan for a stronger economy and more jobs.