The Government is also proposing to stimulate investment, reduce compliance costs, and increase cash flow for businesses by increasing the threshold for writing off low-value assets. Immediate expensing will allow businesses to fully deduct the cost of low-value assets when they are purchased, rather than spreading the deductions over many years. The threshold for the low-value asset write-off is currently $500. The bill proposes a one-year temporary increase in the threshold to $5,000 for property purchased on or after 17 March 2020, reverting to $1,000 for property purchased on or after 17 March 2021. The initial temporary increase provides for an incentive for businesses to bring forward purchases and to take advantage of this measure and thus provide further support to the economy in the recovery phase.