New boost to Coast businesses

GOLD Coast small businesses are about to get a boost under new Government legislation.

More than 73,000 Gold Coast small businesses with an annual turnover of less than $10 million are eligible to access a $20,000 instant writeoff to invest back into their business.

Gold Coast-based Defence Industry Minister Steven Ciobo urged local businesses to take advantage of the announcement.

“Whether you’re a gardener purchasing a ride-on lawnmower, a cafe owner purchasing an industrial dishwasher or a courier purchasing a vehicle, I encourage Gold Coast small businesses to take advantage of the $20,000 instant asset write-off – if they’re not already,” he said.

Local business Dairy Free Down Under owner Kevin Flanagan said he supported any initiative helping small businesses, which were the “backbone of the economy”.

“Demand for our vegan range has meant several expansions, with more planned and we’ve had to invest in automated machinery for our production line, so we’re definitely going to look into the instant asset write-off,” he said.