THE WEEKLY TIMES | Farming leader calls for instant asset write-off to be extended in perpetuity
- colinbettles3
- Mar 26
- 1 min read
The future of the instant asset write-off scheme is unclear after June 30, but calls being made to not only extend, but also increase the scheme.
The scheme, which allows a $20,000 instant write off, was extended for this financial year but was not included in the recent federal budget.
After June 30, the write-off amount would be reduced to $1,000 and Grain Producers Australia Southern Region Director Andrew Weidemann said this lack of certainty was a concern for all small businesses and farmers alike.
The Weekly Times reported that the National Farmers Federation was calling for an extension to the scheme and for the threshold to be increased to $150,000.
While there has been no commitment from the government, with Minister for Agriculture and Small Business Julie Collins side-stepping the question this week, the Coalition has said it will increase the write-off it is elected.
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