Via the AFR:
In a second announcement to be made Tuesday by Bill Shorten, the Labor leader will promise to introduce an Australian Investment Guarantee in which all businesses in Australia will be able to immediately deduct 20 per cent off any new eligible asset worth more than $20,000.
The balance will be able to be depreciated in line with normal depreciation schedules after the first year.
…Labor’s scheme will be permanent and analysis by the Parliamentary Budget Office shows it will cost the budget about $1.8 billion a year.
This is straight from the Trump tax cuts agenda and is good policy and politics. It’s the tax cut you get when you are actually putting it into capital deepening.
It is also a monumental wedge for Do-nothing Malcolm Government’s $65bn brain fart alternative.
It is interesting to note that the Shorten Opposition continues to put forth policy rather than play small target politics. Between this, negative gearing, capital gains, super concession and trust reform, the tax reform platform is filling out nicely.