Federal treasurer Joe Hockey has provided a PrintEx double budget booster with a $20,000 tax benefit for small printers and a tax cut from 30 per cent down to 28.5 per cent.

If the small businesses is not run as a company there is a tax discount of up to $1000. Small printers with a turnover less than $2m will be able to claim an immediate tax deduction for every item they purchase up to $20,000.

There is no limit on the amount of items that can be claimed. The $20,000 tax deduction began on Tuesday night and runs to June 30 2017, effectively meaning it lasts for the next three financial years.

While it will not make much difference to the cost of a new B1 long perfector it will provide a cash boost for small printers.

It can be used for production equipment, for items needed for the business including the likes of air conditioning, computers, signs, kitchens, and for transport including cars and vans.

It is not applicable to in-house software. If your purchase is more than $20,000 then the tax break goes up to that amount, with the remaining costs subject to the normal tax and depreciation rules.

Hockey dubbed his budget the ‘have a go budget’, he created it with the aim of helping small business, of which there are two million in Australia, provide a jolt start to the economy, which is transitioning from mining as the main driver.

Exhibitors at PrintEx are delighted with the Treasurer’s strategy, which should make printers’ buying decisions easier, particularly for sub-$20,000 kit

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