Phew! That was close.

Federal Parliament has finally passed the $20,000 Instant Asset Write-Off and Small Business Energy Incentive provisions for the tax year that ends in just three days.

Most taxpayers have already made their investment decisions “on trust”, but those who didn’t have a very narrow window to order and install qualifying plant items.

The delay in passing the legislation was mainly about cross-benchers in the Senate holding the Government to ransom to advance their various political objectives.