The Turnbull Government is continuing to back small business and is extending the $20,000 instant asset write-off by a further 12 months to 30 June 2019.
Mr Dutton visited Brendale based business Elexon Electronics who manufactures Cave Tracker, exported to mining sites across the world, seeing firsthand how the $20,000 instant asset write-off was benefiting them.
This business is a world leader in its field and prides itself on manufacturing Australian developed technology.
Elexon Electronics Managing Director Pieter Kuiper said instant write-off has boosted the business with the ability to purchase over $84,000 in new assets in the last financial year.
“As a local employer of 60 people the ability to instantly write-off assets has meant that I can focus on growing the business and securing the future for the people I employ.”
Federal Member for Dickson Peter Dutton said he was proud of what local businesses in Dickson were achieving and it was important to continue to create the environment that allows businesses to prosper.
“Businesses like Elexon Electronics are going from strength to strength under this initiative, governments should be paving the way for businesses, not impeding it,” said Mr Dutton.
“This extension of the $20,000 instant asset write-off will ensure that many others like Pieter can improve their cash flow, boost business activity and investment for another year.”
Approximately 14,000 small businesses across the electorate have already benefited from accessing the $20,000 instant asset write-off.
This measure builds on the Government’s Enterprise Tax Plan to reduce company tax rates to 25 per cent to ensure Australian businesses can remain internationally competitive.
Keeping business competitive is part of the Government’s plan for a stronger economy, to create jobs and boost wages.