28 April 2017
Media Release - #2017055, 2017

Giving Gilmore small business a boost

Joint media release with
The Hon Ann Sudmalis MP
Federal Member for Gilmore

SMALL businesses across the Gilmore electorate are now paying the lowest company tax rate in 50 years thanks to the Coalition’s tax cuts, Gilmore MP Ann Sudmalis says.

“Small businesses across the Gilmore electorate drive the local economy. They are at the centre of the Government’s plan for more local jobs and opportunities in the future,” Mrs Sudmalis said.

Joining a nationwide small business roadshow led by Small Business Minister Michael McCormack in Ulladulla, Batemans Bay, Moruya and Bomaderry, Mrs Sudmalis said the Government backs small business with lower taxes, simpler paperwork and the ability to instantly write-off new equipment up to $20,000.

“I want to make sure local small business owners are aware of, and take up these programs to grow, innovate, look for opportunities to export, and create jobs,“ Mrs Sudmalis said.

“I am pleased Michael McCormack has come to meet local small businesses, hear their ideas and feedback and see some of the wonderful work of small businesspeople across the Gilmore electorate.”

Mr McCormack said the Government has recently redefined ‘small business’ to extend the tax cut and instant asset write-off programme to more small businesses.

“Every day I meet small businesses who are having a go and pursuing their dreams. Every day I am inspired by those who create jobs, which is why the Government is working hard to give them a boost,” Mr McCormack said.

“Ann Sudmalis and I know that just because a business is turning over more than $2 million, that doesn’t mean the business is earning that much. That’s why we have redefined small business turnover to $10 million, meaning more small businesses pay less tax and can take advantage of the instant asset write-off programme.

“Ann Sudmalis and I have both run small businesses – so we understand the hard work and dedication small business requires. That’s why we want to make it easier.

“We are also simplifying small business paperwork – especially the Business Activity Statement – and have cut more than $5 billion in red tape since coming to Government in 2013.

“We also know it is small business – not Government – which creates jobs and that’s why we back them.

“Our support for small business backs their dream and gives locals the ability to expand, pursue new ideas and – importantly – create more jobs.”

You can find out more by searching ‘small business’ or visiting the small business webpage.