Luke Howarth (Petrie, Liberal Party) Share this | Hansard source

Do not worry; I am sure the member for Bendigo will get up and carp as well, like you always do. The fact is, this is a good budget for low-income earners. If you really want to talk about low-income earners, look at what you guys are doing to those people like nurses and so forth who want to negatively gear their properties, you are hitting them as well. In relation to the Low Income Superannuation Tax Offset, from 1 July 2017, it means that those people will get $500 back into their account. That is a good thing and I am glad we have bipartisan agreement on that. It is a good thing and we need to be encouraging more people to put money into super. It is very important.

Small businesses are the engine room of our economy. Right now businesses that have a turnover of up to $2 million can take advantage of the instant asset tax write-off. With any product up to $20,000 they can get it instantly written-off rather than depreciating it over several years. This will kick in for businesses starting next year with up to $10 million in turnover which will also help supercharge sales in that year as they are able to purchase products for that amount.

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