Craig Whatman speaking on 3AW Breakfast
More than 10 million Australians will receive up to $1080 in tax rebates over the next 12 months.
The low and middle income tax offset has been extended for a year.
It’s payable when lodging tax returns, and is available to those earning under $126,000.
For businesses, partner at Pitcher Partners, Craig Whatman, says the big budget win is asset write-offs.
“If you’re a business you’ve got the ability for another 12 months to instantly write-off your assets and also to carry back some losses to offset against profits that have been earnt in previous years,” he told Ross and Russel.