Craig Whatman 3AW: The 10 million Australians who will get a tax cut

Craig Whatman speaking on 3AW Breakfast

More than 10 million Australians will receive up to $1080 in tax rebates over the next 12 months.

The low and middle income tax offset has been extended for a year.

It’s payable when lodging tax returns, and is available to those earning under $126,000.

For businesses, partner at Pitcher Partners, Craig Whatman, says the big budget win is asset write-offs.

“If you’re a business you’ve got the ability for another 12 months to instantly write-off your assets and also to carry back some losses to offset against profits that have been earnt in previous years,” he told Ross and Russel.