The instant asset write-off has become a key political talking point ahead of the federal election, drawing concern from business leaders who say it should not be subject to electioneering.
CPA Australia welcomed the Opposition’s pledge to increase the threshold to $30,000 and make the write-off permanent but stressed the need for stability, not shifting policies. With the current $20,000 limit expiring on 1 July – dropping back to $1,000 – small businesses are left uncertain and unable to plan confidently.
The peak body also criticised ongoing short-term changes to the scheme, arguing that long-term certainty is essential to encourage investment. While it supported plans to reduce fuel excise to help sole traders, it raised concerns about allowing first-home buyers to access superannuation, warning this could worsen housing affordability.
CPA Australia is calling for lasting tax reforms that support growth and provide clarity for the business sector.
