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{{propApi.successMessage}} {{region}} Change locationHIA calls for permanent Instant Asset Write-Off in Federal Budget to drive business investment
HIA calls for permanent Instant Asset Write-Off in Federal Budget to drive business investment
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HIA said in its 2026/27 Pre-Budget Submission that permanent write off would provide long term certainty for businesses across the residential building sector, most of which are small and medium sized enterprises, enabling them to invest with confidence.
“The Federal Budget is the right opportunity to lock in the Instant Asset Write Off on a permanent basis,” said Simon Croft, HIA Chief Executive Industry & Policy.
“Certainty matters. Businesses need confidence that tax settings won’t change year to year if they are going to invest in equipment, new technology and their workforce.”
“Repeated temporary extensions of the measure have limited its effectiveness and created unnecessary uncertainty for businesses making long term investment decisions.
“Helping businesses to invest will help to achieve productivity goals as outlined in the recent Productivity Commission report, Housing construction productivity: Can we fix it?.
“For builders and trades, investment isn’t just about machinery and tools - it’s also about training, safety systems. Making the Instant Asset Write-Off permanent would directly support business growth and workforce capability.”
The association said the measure would help businesses manage cost pressures while continuing to take on apprentices and upskill workers at a time of ongoing labour shortages.
“If the Government is serious about improving productivity and increasing housing supply, it must support the businesses delivering that work.
“A permanent Instant Asset Write Off as part of this year’s Federal Budget would be a practical, business focused reform that delivers immediate benefits, supporting investment and strengthening the industry’s capacity to deliver new homes,” concluded Mr Croft.
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