Controversial $1.6bn Policy Unleashes Chaos: What You Need to Know
2025-02-03
NewsWire
A new policy has sparked widespread controversy, allowing small businesses with a turnover of under $10m to claim up to $20,000 for business-related meal and entertainment expenses, such as client dinners or golf outings. This move is set to benefit many Australian SMEs, boosting local economic growth and job creation through increased business expenses and tax deductions, including entertainment and meal claims. However, critics argue it may lead to misuse of funds. The policy's implementation is expected to have a significant impact on the economy, with many businesses eager to take advantage of the new tax breaks and deductions for entertainment expenses.