Federal budget leaves business owners smiling as instant asset write-off tax breaks extended – ABC News

Businesses have welcomed a budget extension to instant investment write-offs, while medical and biotech companies are set to benefit from a lower tax rate on the fruits of their research.
Key points:

• The instant asset write-off allows businesses to claim deductions upfront, rather than through depreciation
• Businesses have already been taking advantage of the scheme to scale up and meet increased demand
• The budget also includes tax breaks for gaming companies and microbreweries and distillers

The key…

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