I’m sure that most of us will agree that the recent budget announcement was fairly modest, which is to be expected in the wake of an election year. And while some will say that the budget lacked vision and support backing innovation for small business, others will be applauding the decision to extend the $20,000 immediate asset write-off for another 12 months to 30 June 2019.

Thanks largely to a surge in revenue from economic growth both locally and globally, the budget plans to unleash $13.7b in the form of tax cuts for hardworking middle Australia and pensioners.