The real big ticket item from the Budget may just have been hiding in plain sight. 9News
Farmers could update entire lines of machinery and factories could purchase entire new productions lines that would be essentially paid by the taxpayer.Factories could upgrade certain machines or even purchase new production lines as part of the scheme and claim it all on tax.
"Large business can certainly benefit from this but it won't be on land and buildings, it will be on eligible plant and equipment."Tradespeople were multiple winners in the 2020 Budget due to more infrastructure projects and tax cuts for businesses. "Australia's tradies were definitely in the 'win' column in this week's Budget. There will be more work, and more tax breaks to help keep self-employed tradies and employers not only in business, but spending on new equipment," Carexpert.com.au motoring analyst Paul Maric told 9news.com.au.
But before you rush to the car yards, there's a word of warning: you still need to have access to capital to buy that shiny new dual-cab in the first place – and it needs to make sense that it will add to your business's revenue over time.
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