An extension to the instant asset write-off, cuts in the company tax rate and incentives to work with State and Territory Governments to cut more red tape back localAN extension to the instant asset write-off, cuts in the company tax rate and incentives to work with State and Territory Governments to cut more red tape back local small businesses across the Bennelong electorate, local MP John Alexander says.
“Our small businesses in Bennelong form a critical community pillar of service, employment, and social cohesion,” Mr Alexander said.
“Without them, we all would suffer. They need and deserve our support, that’s why I always push for policies that relieve the tax and red tape burden they suffer. And that’s why I promote our small businesses through my Bennelong Village Businesses initiative, where we promote different shopping villages around the area on a rotating monthly basis.”
Joining Federal Small Business Minister Michael McCormack for a small business roadshow visit today, Mr Alexander said the feedback and ideas helps the Government deliver for small business.
“It was a thrill to have hosted the Minister for Small Business today, and to have provided critical access to him for our local small businesses. I trust today’s breakfast consultation event was informative and useful, further assisting Bennelong businesses in achieving their goals and dreams.”
Mr McCormack praised the Bennelong ‘shop local’ campaign, urging locals to continue to support the jobs, opportunities and services small businesses provide by spending money locally.
“Every additional dollar spent in a local community creates a chain reaction,” Mr McCormack said.
“Every dollar helps local small businesses grow, invest and – most importantly – create jobs.
“Whether that’s a young person’s first job or an opportunity for an older Australian, it is small business – not Government – which creates jobs and that’s why we back them.”
The company tax rate for small business is now at its lowest level in many decades.
“Budget Day was a very special day for small business. We enshrined in law the lowest tax rate for small business in many, many decades and delivered an extension by 12 months to the instant asset write-off,” Mr McCormack said.
“That backs small business to buy new capital equipment, to expand and to create jobs.
“That is the centrepiece of the Liberals and Nationals’ agenda in Government.”
More information can be found on the small business website.