Opened the debate
Steggall moved an amendment to render the instant asset write-off permanent and raise the threshold from $20,000 to $50,000. Steggall argued that the current annual renewal process creates political uncertainty that undermines business confidence and planning. Steggall cited support from professional bodies and small business owners who desire long-term certainty to invest in innovation and productivity. Steggall contended that a permanent measure would reduce red tape and provide meaningful stimulus for the nearly four million small businesses in Australia.