Instant Asset Write-Off Extension

09 June 2020

Labor supports the proposed extension of the instant asset write-off subject to seeing the detail of the legislation.

with
BRENDAN O’CONNOR MP
SHADOW MINISTER FOR EMPLOYMENT AND INDUSTRY SHADOW MINISTER FOR SCIENCE
SHADOW MINISTER FOR SMALL AND FAMILY BUSINESS
MEMBER FOR GORTON

Labor supports the proposed extension of the instant asset write-off subject to seeing the detail of the legislation.

While measures to help reverse the collapse in business investment are desperately needed, the Morrison Government has poorly timed and badly implemented this policy from day one.

Scott Morrison and Josh Frydenberg failed to act when business investment was crashing in the months before the fires and the virus, and then announced this policy just before shutting down large parts of the economy.

The Morrison Government now wants to be congratulated for extending this program while ripping out JobKeeper support earlier than promised.

At a time when workers and businesses are crying out for certainty, the last thing they need is JobKeeper support to “snap back” on Scott Morrison and Josh Frydenberg’s arbitrary timetable.

Workers, businesses and hundreds of thousands of unemployed Australians don’t want more shambolic policy changes, they want real support and a plan for a stronger recovery that sets them up for the future.