Anthony Albanese (Grayndler, Australian Labor Party, Prime Minister) Share this | Hansard source

In addition to that, in the budget we announced $3½ billion in new measures that lower taxes for businesses to encourage investment and innovation. We're making the $20,000 instant asset write-off permanent, which is something that's never been done before. We're introducing a permanent two-year loss carry-back to support resilience, investment and risk-taking. We're introducing loss refundability to help startups grow in their first years. We're expanding tax incentives for venture capital to unlock patient capital for young, expanding firms. In addition to all that, we're better targeting the research and development tax incentive. That's why the Council of Small Business Organisations, for example, said about the instant asset write-off: 'It gives—

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