PRIME Minister Kevin Rudd will offer small businesses a tax deduction sweetener of up to $10,000 for equipment, from the day after the election, if Labor wins.
Mr Rudd is set to announce a 'small business investment boost' on Sunday.
It will allow small businesses with an annual turnover of less than $2 million to claim an immediate tax deduction for assets purchased up to $10,000.
Computers, photocopiers, building tools and commercial fridges are among the items that will be covered.
An estimated 3.2 million businesses will be eligible for the tax deduction which will be on offer from September 8, 2013 to June 30, 2015.
The measure will expand and replace the existing instant asset write-off during this period.
It will cost $200 million over four years.
The cost will be offset from uncommitted funds in the budget.
Mr Rudd said it would be a "shot in the arm" for small businesses because it will provide upfront cash flow benefits.
Under the plan, if a cafe owner buys a commercial fridge for $7450, they will be able to claim the full cost as tax deduction and will pocket $2235 in the first year.
Under the old rules they would receive $335.
All small businesses irrespective of whether they are companies, sole traders, partnerships or trusts will be eligible.
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