STATEMENTS BY SENATORS

Senator TYRRELL (Tasmania—Independent TAS Whip) (13:48): It's time to stop stringing along Australian small businesses and to give them a fair go. Right now, the instant asset write-off sits at $20,000, and it keeps getting extended just one year at a time. That's short-sighted, and, frankly, it's holding our economy back.

We should increase the write-off to $30,000 and lock it in for five years—no more yearly uncertainty. Small businesses are the backbone of this country—our tradies, cafe owners, farmers, mechanics and family run shops. Costs are going up everywhere—power, rent, fuel and wages—and they deserve policies that give them room to breathe.

A higher write-off means they can buy better-quality tools, vehicles or technology. That extra 10 grand could be the difference between upgrading to something that lasts and getting stuck with a cheaper version that breaks down. When businesses can claim back more, they can reinvest more, and that's a win for everyone.

But it's not just about money. It's about certainty. When businesses know the rules won't change every 12 months, they can actually plan ahead.

They can budget, hire staff and invest with confidence. That's what drives stability. As we heard at the recent economic roundtable, productivity is the key to Australia's future.

We can boost productivity by giving businesses certainty and helping them invest in better equipment and smarter technology. That's what this change would do—more investment, more productivity and more jobs. Tomorrow, I will introduce an amendment to make it happen, to raise the instant asset write-off to $30,000 and to extend it for five years.

That's real reform, and it's long overdue. Let's stop this stop-start policymaking. Let's give small business the confidence and support they deserve.

This is common sense. It's good economics, and it's good for Australia.