Australian retailers get boost from tax break for small business
Immediate tax deduction for buying office supplies that cost less than A$20,000, a significant jump from previous A$1,000 limit
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AUSTRALIA's hard-pressed retailers received a boost from the federal budget as investors scrambled on Wednesday to buy shares in the sector, counting on a surprise tax break to help small businesses spend more on office supplies.
In a budget designed to boost small firms and stimulate the country's limping economy, mining services companies also benefited from the announcement of a A$5 billion (S$5.35 billion) loan facility to promote infrastructure investments in remote northern Australia.
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