Thousands of local small businesses have taken advantage of the Coalition Government’s instant asset write-off according to 2015-16 tax office data, says Federal Member for Hume Angus Taylor.

“The instant asset write-off is directly helping small businesses to increase their bottom lines and improve cash flow which means more investment and job creation in Hume,” he said.

The following list shows the number of businesses in their respective postcodes which claimed an instant asset write-off in 2015-16:

Postcode        Main centre                Number of businesses

2580                Goulburn                                 450

2570                Camden                                  325

2575                Mittagong                                275

2567                Narellan                                   275

2583                Crookwell                                215

2586                Boorowa                                  115

2571                Picton                                      115

2574                Bargo                                      75

2579                Marulan                                   70

2752                Warragamba                           75

2573                Tahmoor                                 35

2572                Thirlmere                                 35

“Nationally, in 2015-16, the number of claims increased by 50,550 and the average amount claimed increased by $4,065 to $9,000. This means more money in the pockets of small businesses so they can grow their businesses, employ workers and pay them more,” Mr Taylor said

“That is why the Coalition Government increased the per-asset threshold of the instant asset write-off from $1,000 to $20,000 and extended the program in the Budget until 30 June 2018.

“Cash flow is so important for small business operators and the instant asset write-off means that tradies can invest in better tools, cafes and restaurants can upgrade their equipment and all small businesses can reinvest to grow their business.

“These great results are set to continue with tens of thousands more small businesses able to access the instant asset write-off thanks to the Coalition Government’s increase in the small business turnover threshold to $10 million per year.

“The extension of the instant asset write-off is just one part of the Government’s plan to boost the economy and help small businesses invest and grow.”

Find out more about the Coalition Government’s small business measures at business.gov.au/smallbusiness.