This was just part of a suite of economic support measures that the federal Coalition government had put in place in response to the sharp COVID-19 impact on the economy last year, he added.
“We’ve not only provided income tax cuts, but we’ve also provided significant incentives to small business to immediately expense new acquisitions to have a loss carry-back provision in case they have done it really tough through COVID, that they can use the tax system to develop the working capital to get through it,” Frydenberg told Radio 2GB’s Mike Smith.
“It’s helping to encourage aspiration and allowing Australians to rightfully keep more of what they earn.”
New report: Who is most impacted by inequality in Australia? phys.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from phys.org Daily Mail and Mail on Sunday newspapers.
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