.AusChamber's Dr Ross Lambie says the government’s decision to extend the instant asset write-off scheme for a further six months “is really welcomed news”.
The Australian Chamber of Commerce and Industry’s Dr Ross Lambie says the government’s decision to extend the instant asset write-off scheme for a further six months “is really welcomed news”. Under the scheme – which was extended in order to boost the economy following the COVID-19 outbreak – businesses with a turnover of up to $500 million will be able to buy equipment, machinery and office fit outs for under $150,000.
The government estimates the scheme will benefit about three and a half million businesses, costing the budget $300,000 over the next four years. “We did have concerns about the measure coming to an end on June 30,” Dr Lambie told Sky News. “So the extension is going to be something I think will be timely, with businesses able to look forward and the opportunities to invest are going to be clearer.
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