Today, the Albanese Labor Government has passed important laws that extend the instant asset write‑off, modernise our markets and protect consumers.
This will help small businesses to invest and grow, improve confidence in our markets and ensure a fairer energy market for Australian families.
We are extending the $20,000 instant asset write off until 30 June next year, which will boost cash flow and incentivise small businesses to invest in new equipment and technology.
Up to 4.1 million small businesses with turnover of less than $10 million a year will benefit from Labor's extended instant asset write off.
The Treasury Laws Amendment (Strengthening Financial Systems and Other Measures) Bill 2025 includes several other important changes, including:
- Extending laws to crack down on energy market misconduct and protect consumers
- Improving transparency around ownership of publicly listed companies
- Strengthening the Australian Charities and Not‑for‑profits Commission to protect integrity in the charity sector and maintain donors' trust in the system.
Labor will always back in Australian small businesses, industries and workers, as part of our efforts to build a more productive and resilient economy.
