The federal budget is a huge benefit for anyone that makes sizeable office supplies.
Buy a $2000 desk or a comfy new chair for the boss from tomorrow and you can write it off against tax thanks to the asset write-off provisions in the 2015 federal budget.
Critically, the limit is $20,000 per asset – a huge threshold that gives a significant incentive to small businesses to spend up and invest in their businesses.
Business spending has been subdued in Australia over the past couple of years. This has the potential to unleash huge waves of small amounts from very large numbers of businesses.
Officeworks will be busy tomorrow. And they’ll be popping champagne tonight.
And you might be seeing a new coffee machine in your local cafe pretty soon.
More Budget Coverage:
- AT A GLANCE: All the big items in last night’s 2015 federal budget
- Here are the key budget numbers you’re looking for
- ANALYST: The budget ‘hung the economy out to dry’ and more rate cuts are needed
- This debt chart shows the Abbott government squibbed the tough decisions in the budget
- 31 things you need to know about the federal budget
- Here’s what Australia’s startups think of the stimulus plans in the federal budget
- MYOB’s CEO says the $20K startup gift will be ‘phenomenal’ for Aussies
- All the government programs that have been cut in Australia’s federal budget