TAX CUTS POWER WESTERN SYDNEY SMALL BUSINESS
A visit to Western Sydney switchgear and switchboard apparatus manufacturers Salem Power Engineering Services today by Small Business Minister Michael McCormack and Assistant Minister for Immigration and Border Protection Alex Hawke highlights how the Coalition Government’s company tax cuts are powering small businesses in Sydney’s west.
“It is great to be here today with Alex Hawke in Seven Hills and Parramatta, on my small business roadshowto see how local small businesses in Sydney’s west are now empowered to hire more Australians thanks to the Government’s company tax cuts,” Mr McCormack said.
“Alex Hawke and I understand it is small business – not Government – which creates jobs.
“That is why the Government is backing small business, such as Salem Power in Seven Hills and Badmanner Thymes Espresso in Parramatta which we visited today, by giving them a tax cut to help them grow and to help their owners pursue their dreams.
“The Government knows the tax cut will not wind up in these businesses’ back pockets – we know it will be reinvested in new ideas, in growing, and in more work hours and more local jobs.”
Assistant Minister Hawke said the Federal Government was backing small business across the nation, including those in Western Sydney.
“A few weeks ago we delivered a cut in the company tax rate – to its lowest level in 50 years,” Mr Hawke said.
“The Government also redefined ‘small business’, to an annual turnover of $10 million, to help more small businesses take advantage of the lower tax rate and the instant asset write-off programme.
“We back small business by letting them write-off assets up to $20,000 which helps their businesses grow, expand and pursue new ideas.
“Our tax cut plan now means thousands more small businesses can take advantage of this support.”
You can find out more by searching ‘small business’ or visiting www.business.gov.au/smallbusiness.