CANBERRA, ACT, Nov. 27 -- The Treasurer of Australia issued the following media release:
Today, the Albanese Labor Government has passed important laws that extend the instant asset write‑off, modernise our markets and protect consumers.
This will help small businesses to invest and grow, improve confidence in our markets and ensure a fairer energy market for Australian families.
We are extending the $20,000 instant asset write off until 30June next year, which will boost cash flow and incentivise small businesses to invest in new equipment and technology.
Up to 4.1million small businesses with turnover of less than $10million a year will benefit from Labor's extended instant asset write off.
The Treasury Laws Amendment (Strength...