TAX CUTS, instant asset write offs and a balanced playing field for small business featured heavily in today’s discussions with small businesspeople in Adelaide when Senator for South Australia David Fawcett was joined by Minister for Small Business Michael McCormack to meet with local job creators.
“Small business is vitally important to the community here in Adelaide – it is the engine room of our local economy and employs thousands of South Australians,” Senator Fawcett said.
“I was particularly encouraged by the interest shown by small business owners to access the instant asset write off which is helping to purchase new equipment and improve small business cash flow.
“I would like to thank the Minister for taking the time to meet with our local small business owners to provide details on how the Government is backing the sector to grow and create jobs here at home in South Australia, especially by cutting company taxes.”
Mr McCormack and Senator Fawcett visited a variety of small businesses including the local Pasta Chef shop at Reynella which is considering investing in new plant and equipment thanks to the instant asset write off programme.
“By cutting the tax rate for small businesses with a turnover less than $10 million, the Liberal and Nationals Government is providing an incentive for small businesses to grow and help create more jobs locally,” Mr McCormack said.
“I am really proud of the small business package the Government is delivering including the instant asset write off which is already helping so many businesses to help their cash flow while they expand their operations.
“Through slashing red tape, cutting taxes and extending the instant asset write-off we are making a tangible difference to the thousands of small businesses operating across South Australia and throughout the country.
“The Government is backing small business to grow the economy and create local jobs.”
A policy roundtable was also held in Reynella so local businesspeople could get up-to-date information on the Government’s support for small business. The local Member was invited. You can find out more about the package at the small business webpage.