Over 2,500 small businesses in Wright have taken advantage of the Coalition Government’s instant asset write-off according to 2015-16 tax office data.
“The instant asset write-off is directly helping small businesses in Wright increase their bottom lines and improve cash flow which means more investment and job creation,” Federal Member for Wright Scott Buchholz said.
“This means more money in the pockets of local small businesses so they can grow and employ more workers.”
“Cash flow is so important for small business operators and the instant asset write-off means that tradies can invest in better tools, cafes and restaurants can upgrade their equipment and all small businesses can reinvest to grow.”
These results are set to continue with tens of thousands more small businesses able to access the instant asset write-off thanks to the Coalition Government’s increase in the small business turnover threshold to $10 million per year.
“The extension of the instant asset write-off is just one part of the Government’s plan to boost the economy and help small businesses invest and grow,” Mr Buchholz said.
“I’m so glad that we as a government can help boost the capacity of our local small businesses through the instant asset write-off.”
You can find out more about the Coalition Government’s small business measures at www.business.gov.au/smallbusiness