Morrison aims at Labor, shoots own foot - Media Release

MORRISON AIMS AT LABOR, SHOOTS OWN FOOT

The Treasurer has once again flubbed his attack, this time on Labor’s Australian Investment Guarantee:

Our policy is even better – at the moment, you get to write off the entire $20,000.

Sky News, 14 March, 2018.

Actually, a $20,000 investment by a small business is precisely an example of what cannot be claimed under the government’s current scheme.

In regards to Labor’s policy, Morrison goes on:

My understanding it is $20,000.

When pressed that Labor’s policy extends beyond a $20,000 threshold he says:

No, it’s not. It’s not!

That’s also not true.

Here are the facts - businesses buying an asset of $20,000 or above get no comparable accelerated depreciation benefit under the Liberals. At all. Ever.

And for assets under $20,000, their policy expires in 108 days.

Labor’s Australian Investment Guarantee is permanent. Businesses can immediately expense 20 per cent of new assets upfront.

The Treasurer’s lack of attention to detail should leave us in little wonder as to why Australia’s gross debt just crashed through the half a trillion dollar mark.  

If he really believes in jobs and growth, Scott Morrison should take his foot out of his mouth, and get on with implementing Labor’s policy.

WEDNESDAY, 14 MARCH 2018


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