The latest MYOB Business Monitor has placed the “temporary” $20,000 instant asset tax write off at the top of this year’s SME wish list for Government. A national survey of 1,000 small businesses asked whether policies operators would vote for or against a write-off for businesses under $2 million in revenue. A whopping 68 percent supported it.
Key Takeaways:
- “It’s such an important policy for business wanting to kick-start their growth. We’re seeing a real buzz in the small business community and this will only help that become a roar.”
- “While Minister Hunt’s announcement of the Business Research and Innovation Initiative was a welcome step for small business in some specific sectors, it would be great to expand this approach.”
- It is interesting to note that such a large number of small business (60 per cent) support reducing the company tax rate for all businesses.
“The latest MYOB Business Monitor has placed the “temporary” $20,000 instant asset tax write off at the top of this year’s SME wish list for Government.”
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