THE lowest small business tax rate in many decades will help Tasmania’s small businesses grow and create jobs, local Senator Eric Abetz said.
"Small Business is the engine room of jobs growth and is the backbone of the Tasmanian economy," Senator Abetz said.
Joining Federal Small Business Minister Michael McCormack on a visit to small businesses in Hobart today, Senator Abetz said small business success has helped reduce the State’s unemployment.
"With the continued support and incentives from the current Government, it is therefore no coincidence that under the current Federal and State Governments, Tasmania's unemployment has fallen from 8.1% to 5.9%," Senator Abetz says.
"With the recently legislated company tax cuts for small businesses along with the extension of the popular $20,000 instant asset write-off – I have no doubt that small business will continue to be the driver of the Tasmanian economy."
Mr McCormack urged local small businesses to use the $20,000 instant asset write-off extension to purchase equipment locally.
"It’s fantastic to see unemployment falling in Tasmania and by using the recent extension to the popular write-off programme locally, more money can stay flowing around local communities," Mr McCormack said.
"I know how Tasmania’s regions and cities rely on small business to help create jobs and provide services. So every additional dollar spent in a local community will boost local confidence and help create even more local jobs.
"No matter your need, you can buy it locally and the Federal Government wants to see you buy local to drive the local economy and keep creating local jobs."
A policy forum was held with local small businesses at which Denison MP Andrew Wilkie was present. Mr McCormack will also address the Tasmanian Business Council dinner in Hobart tonight.