Scott Morrison offers small business tax relief as he touts economic credentials

Scott Morrison has delivered his election pitch to the Coalition’s economic heartland, promising further tax relief for small business in a speech that stressed the importance of a strong economy.Seeking to draw differences with Labor over economic policy, Morrison announced the government would increase the instant asset write-off threshold to $25,000, effective immediately, with legislation to be introduced “as a priority” when parliament resumes next month.The change, which is forecast to cost $750m over the forward estimates, will allow businesses with an annual turnover of less than $10m to immediately deduct the cost of eligible assets (vehicles, machinery etc) until the end of the 2020 financial year.