From www.accountantsdaily.com.au: Labor plans to extend the instant asset write-off measure for small businesses by an additional year, allowing those with revenue up to $10 million to benefit from the $20,000 threshold until 2026.

While CPA Australia and Chartered Accountants ANZ welcomed the extension, they have called for the measure to be made permanent to provide long-term certainty for businesses.

Both organisations advocate for bipartisan support to eliminate the uncertainty surrounding this important financial incentive for small and medium enterprises.