Asset or expense?

Non current assets of $20 000 become expenses!
Tonight, the Treasurer announced the 2015/2016 Commonwealth Budget.  One new policy was to allow small businesses (sales of less than $2 000 000 per year) to treat as expenses, non current assets up to $20 000.  This means that, for example, a business could purchase a vehicle for $20 000 and report it as an expense, not an asset, and thus reduce their taxable profit by $20 000. This would be good the business's cash flow at the end of the financial year and encourage more purchases of equipment, machinery etc in the economy which would stimulate economic activity.  The vehicle would be used for many years but would not be depreciated over its useful life as all of it would be fully expensed in the year of purchase.  This is not relevant to VCE!!!  An expense is meant to be used-up or consumed in the reporting period.  Expenses do not have a future benefit ... assets do.  But this change in policy converts a non current asset, up to $20 000, to an expense even though it will provide future benefits.  There is a difference between the real world and VCE Accounting!