The following points were mentioned in the 2023-24 Federal Budget by Australia’s Treasurer, the Hon. Jim Chalmers MP, on Tuesday, 9th May 2023. Instant asset write-off This measure refers to fully expensing an asset with a threshold of up to $20,000 per eligible asset. The catch is that the small business revenue must be below $10 million per annum in financial year. The time-frame for the first use or installation of the eligible asset covers only from 1st July 2023 to 30th June 2024 financial year. Electricity The Federal Government will partner with the state and territory governments to provide…