The Rudd government’s proposal includes tax breaks for small businesses that acquire assets worth more than $1000 in 2009, with larger businesses also receiving tax deductions for purchases over $10,000.

Printing Industries‘ national manager for policy and government affairs Hagop Tchamkertenian (pictured) described the proposal a welcome boost in the lead-up to PacPrint.

“The timing could not have been better and means that companies will now be able to receive significant tax relief for their capital expenditure,” Tchamkertenian said.

“Implementing counter-cyclical measures aimed at stimulating the economy in the current environment makes sense.

“The nature of the stimulus package is also well-targeted with spending on infrastructure and providing inducements for businesses to bring forward their planned capital expenditures. Bringing forward the planned tax cuts may not have been as stimulatory at this stage as taxpayers may have responded by saving rather than spending their tax cut.”

However, the proposal faces an uncertain future, with federal opposition leader Malcolm Turnbull declaring today that the Coalition would oppose the package in both houses of parliament, saying that more time was needed to scrutinise the proposal.

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