The Crest of the Commonwealth of Australia Treasury Portfolio Ministers
Picture of David Bradbury

David Bradbury

Assistant Treasurer, Minister Assisting for Financial Services & Superannuation and Minister for Competition Policy & Consumer Affairs

5 March 2012 - 18 September 2013

Media Release of 28/03/2013

NO.039

Brisbane small businesses will be hit by Abbott's savage cuts

Tony Abbott needs to front up to Brisbane small businesses about his plans to rip away important tax concessions.

Mr Abbott today visited a small business in Brisbane today but what he won't tell the 560,000 small businesses of Queensland is that he has a plan to take away the $6,500 instant asset tax write-off.

This tax break means that small businesses can invest in the equipment they need to grow their business. Small businesses can claim an immediate deduction for each new asset costing less than $6,500, for as many assets as they purchase.

Mr Abbott cannot pretend to be the friend of small business but at the same time promise to rip away this important tax break.

Mr Abbott should stop pretending and come clean with small businesses about his plans to cut support for the sector.

28 March 2013