Coming off the back of delivering the lowest company tax rate for small business in 50 years, a nationwide small business roadshow took stock of the terrific opportunity in northern Victoria today, Small Business Minister Michael McCormack said.
“Senator Bridget McKenzie and I are proud to be in the Government for small business. We are here to listen to small business people in northern Victoria about how we can keep working to grow the sector,” Mr McCormack said.
“Lower taxes, simpler paperwork and small business confidence are central to the Government’s plans to grow the economy, and regions such as country Victoria play an important part in that.
“Legislation which passed through the Senate last week means the lowest company tax rate for small business is now on its way.
“Partner that with the almost $5.8 billion in red tape reduction and the support for small business through the instant asset write-off programme, and Senator McKenzie and I can see the potential for country small business to grow.”
In Wodonga and Benalla today, Mr McCormack – whose small business roadshow started in February – said small business is at the forefront of Government’s mind.
“We know it is small business – not Government – which creates jobs. That’s why our plans from tax cuts to simpler paperwork, new markets and help for start-ups, are here to back small business dreams,” Mr McCormack said.
Nationals’ Senator for Victoria, Bridget McKenzie, said she was pleased the roadshow made a high priority of meeting small business operators in country Victoria.
“Country communities such as Wodonga and Benalla are backed by small business. We know when small businesses – including many farmers – are doing well, then so too are local farm machinery suppliers, stock and station agents, as well as shops in town,” Senator McKenzie said.
“It’s those small, often-family-owned businesses in the bush which employ locals and provide our communities with the services they need. That is why I am delighted the Minister’s roadshow has such an emphasis on the regions and why I am excited to help showcase the small business stories of country Victoria.
Senator McKenzie also urged small businesses to take advantage of the instant asset write-off programme, which ends on June 30.
“Now is the time for local small businesses to purchase the new equipment they need and instantly claim it back against their tax,” Senator McKenzie said.
“Any products which small business need worth less than $20,000 can be written off, but only until 30 June. So now is the time to take advantage.”
More information on the Government’s support measures for small business is available online.