Home Forums Federal Budget Extension of instant asset write-off — will it encourage businesses to spend?

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      The Government has announced that it will support businesses with an aggregated annual turnover of less than $5 billion by enabling them to deduct the full cost of eligible depreciable assets acquired from 7:30pm (AEDT) on 6 October 2020 and first used or installed by 30 June 2022. (See pages 13-14 of our 2020–21 Federal Budget Report for details.)

      Will businesses be confident to spend and acquire depreciable assets given the present and future uncertainty as a result of the COVID-19 pandemic — especially before this measure is legislated?

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