Business
Spending spree: retailers say budget will lift economy ‘out of the doldrums’ – Sydney Morning Herald
The chief executives of some of Australia’s largest retailers have praised the government’s budget for its job-making measures and income tax cuts.
Mr Lew’s Premier Investments, which owns brands such as Smiggle, Peter Alexander and Just Jeans, employs a number of young casual staff and therefore may significantly benefit from the new $200-a-week ‘JobMaker’ hiring credit introduced in the budget.
The company’s revenue is also under $5 billion, which means it is eligible for a new policy which will allow businesses to write off the full cost of any depreciable asset they buy before June 30, 2022.
“Treasurer
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