Scott Morrison offers small business tax relief as he touts economic credentials
theguardian | January 29, 2019
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.