Business confidence has bounced back strongly as the economy has reopened, but Treasurer Josh Frydenberg has decided to bolster animal spirits even further by extending generous business tax incentives first unveiled as the pandemic struck.
The $20.7 billion in business tax support, through the extension of full expensing and loss carry-back measures, is expected to drive a sharp pick-up in non-mining business investment, which slumped during the pandemic.
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Karen Maley writes on banking and finance, specialising in financial services, private equity and investment banking. Karen is based in Sydney. Connect with Karen on Twitter. Email Karen at karen.maley@afr.com
