In his budget reply on Thursday night, Opposition Leader Peter Dutton announced that a Coalition government would make the instant asset write-off permanent, offer additional incentives for businesses hiring apprentices, and introduce new tax breaks for business lunches if elected.
Dutton’s speech in Parliament highlighted the Coalition’s economic plans, setting them apart from the federal government’s 2025–26 budget, effectively serving as a launchpad for the upcoming election campaign.
If the Coalition wins the May election, it plans to make the instant asset write-off permanent with a $30,000 asset threshold, Dutton announced.
8This commitment, which echoes previous announcements made last year, follows a federal budget that did not extend the $20,000 asset threshold set to expire on June 30, 2025.
Labor still has time to revise its stance on the write-off before the May 3 election, but without new legislation, the threshold will drop back to $1,000 on July 1.
Dutton reaffirmed his January promise to introduce a new tax break for small businesses, allowing deductions of up to $20,000 on meal and entertainment expenses.
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