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Secondly, the accelerated depreciation is a timing benefit only; you may pay less tax in the first year, but over time your tax bill will be no different.

The potential benefit isn't less tax; it's the extra revenue and profit you hope will flow from buying more equipment, which you hope to afford by getting the upfront deduction.

The fault line in this election has already been exposed, by an unlikely person called Duncan Storrar.

Duncan, an audience member on Q&A, says he has a disability and low education, and is a minimum wage earner.

The idea is easy to grasp: If the government provides incentives to businesses and their owners to work harder and invest more, by reducing the tax they pay on their earnings, then they will naturally and inevitably use the extra money to produce a higher level of economic growth, which will create more and higher-paying jobs, in a virtuous circle which ends up benefiting absolutely everyone - even the poor.

O'Dwyer's cafe owner exemplifies this cycle: The government is giving him a tax cut; he will use the extra money to buy expensive equipment which will make his business more efficient and productive, enabling him to serve more customers, for which he will need to hire more staff.

He's going to derive more revenue and he's told me that he is going to put more people on. It will affect people's lives in a very positive way.

It follows, as night follows day, that eventually Duncan is going to get more work delivering bread to the cafe to feed the ,000 toaster (which apparently can churn out 1,000 slices an hour).

What's not to love in that equation of economic turbo-charging?

She conflated the income tax cut (which will reduce the tax rate for businesses with revenue below million to 27.5 per cent) with the budget's expansion of the accelerated depreciation concession which allows small businesses to immediately deduct the full cost of capital expenditure on items costing up to ,000, instead of depreciating it over a number of years.

Thus the ,000 toaster; it has nothing to do with the tax cut.

O'Dwyer said this: We want to grow the economy, we want to create more jobs.

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