18 July 2017
Media Release - #2017098, 2017

Tax cuts back the Tweed’s small businesses

SMALL businesses across the Tweed are on the cusp of even more growth thanks to a cut in the company tax rate, Small Business Minister Michael McCormack says.

“Communities throughout the Tweed and northern New South Wales are the job-creators of the region. That’s why the Federal Government has cut the company tax rate to 27.5 per cent – the lowest in many decades – to allow these businesses to create even more jobs,” Mr McCormack said.

On a small business roadshow visit to the region today, Mr McCormack said regional small businesses will benefit from lower taxes and an extension to the instant asset write-off.

“I ran my own small business from the regions before I entered Parliament, so I know any bit of tax relief helps small businesspeople expand their operations, and ultimately create more jobs,” Mr McCormack said.

“That optimism is on display across the Tweed today and I am pleased to see the Federal Government’s support is driving business activity and growth in the region.”

Mr McCormack also toured Murwillumbah with representatives of the Tweed Shire Council, to hear firsthand how businesses are getting back on their feet following this year’s floods.

“It was uplifting to see small businesses in Murwillumbah share with me their plans to keep their operations open well into the future,” Mr McCormack said.

“It is fantastic to hear firsthand the plans and passion Murwillumbah’s small business community has for the region and it’s future.

“With the recent year-long extension to the instant asset write-off, I know there are many small businesses which will use our support to purchase the equipment they need to get back on their feet and create more jobs into the future.”

“Not a day goes by without meeting a small businessperson who inspires me to keep working hard on the sector’s behalf. Today’s tour through Murwillumbah and the Tweed shows again how central country small businesses are to country communities and I applaud their passion.”

Mr McCormack also held a policy forum in Tweed Heads and toured local small businesses with Richmond MP Justine Elliot.