Labour would scrap coalition's Investment Boost, replace with small business package

Labour has confirmed it would, if elected, scrap the coalition's Investment Boost policy and replace it with a small business-focused package. The centrepiece lifts the instant asset write-off threshold from $1,000 to $10,000, letting small firms immediately deduct new equipment costs. Leader Chris Hipkins said small business owners would "get paid sooner, get more support to invest in the equipment they need, and keep more of what they earn."