4 May 2017
Media Release - #2017060, 2017

Small business tax cuts central in jobs plan

Joint media release with
The Mr Ian Goodenough MP
Federal Member for Moore

TAX cuts for small businesses across the Moore electorate are central in the Federal Government’s plan to grow the economy and create more jobs, Member for Moore Ian Goodenough says.

“Small business tax cuts are essential if we are to remain competitive with other countries with lower taxes,” Mr Goodenough said.

“It also means local small businesspeople have more money to invest in their business, pursue new ideas and create more jobs, as well as having a multiplier effect on the economy.”

Meeting local small businesses with Federal Small Business Minister Michael McCormack today, Mr Goodenough said the Federal Government support backs small businesses to grow.

“The instant asset write-off provides small business with the incentive to invest in new plant and equipment, meaning they can expand into new markets and ideas, complementing the Government’s new trade agreements and increased market access.

“Our tax cut plan redefined small business – to an annual turnover of $10 million – meaning more small businesses now pay less tax and can access the instant asset write-off.”

Mr McCormack said the tax cuts – to the lowest level in many decades– also means more small businesses can now take advantage of Federal Government support.

“Small business is a big employer across the country, with around 5.5 million Australians employed by a small business at the moment. The Government wants the economy to grow and create more jobs, which is why we back small business with a tax cut,” Mr McCormack said.

“Every community wants to see more jobs and a bright future. The Federal Government backs small businesses across the country through lower taxes, the instant asset write-off and simpler paperwork, but our plan needs Australians to keep shopping locally.

“Ian Goodenough often tells me how vibrant the local small business sector is in Moore. No matter your need, a local small business can provide it.

“By spending money locally, locals complement our tax cuts and support for small business, encouraging small business to grow and – most importantly – create local jobs.”

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