The Albanese Government will commit to extending the instant asset write-off if it is reelected.
Prime Minister Anthony Albanese told ABC Radio Sydney of his Government’s plan to renew the tax incentive this morning. He said the same again at the Daily Telegraph’s Future Western Sydney forum earlier.
At the forum, the ABC reports, a Daily Telegraph journalist asked the PM why the Government has yet to make the measure permanent.
“Because we want people to invest,” said Albanese. “We want people to invest now. If you just leave it there, then there’s no incentive to go out there and make sure that you tool up your business, that you invest and you create that multiplier impact now.”
CPA Australia was among the first few small-business advocacy groups to welcome the pledge, but also questioned why the measure still hasn’t been made permanent.
“Long-term certainty is crucial for businesses, and the full potential of this policy to support smaller businesses will never be realised if it remains an annual measure,” said CPA Australia Business Investment Lead Gavan Ord.
