Cashing in on write-off
SMALL businesses in Murray will continue to benefit from additional opportunities to invest in their business and replace or upgrade their assets with the $20,000 instant asset write-off.
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 June 30, 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 cafe´ owner purchasing an industrial dishwasher or a courier purchasing a vehicle, I encourage small businesses in Murray to take advantage of the $20,000 instant asset write-off – if they’re not already,” Federal Member for Murray Damian Drum said.
“In a report commissioned by the Australian Food and Grocery Council last month, the Murray electorate was home to more than $5 billion of economic output. Our small businesses play a big part in this economic output. Any help the government can provide to our small businesses helps our local communities by growing jobs and investment.’’