BEENLEIGH SMALL BUSINESS BOOSTED BY BUDGET
SMALL businesses throughout the Forde electorate were boosted by additional support in last week’s Federal Budget, Federal Member for Forde Bert van Manen says.
“Small business drives local economies, especially in the south east Queensland region,” Mr van Manen said.
“More than 15,000 small and medium businesses in my electorate of Forde will be better off thanks to the Coalition Government’s efforts to help them grow and succeed.”
The visit follows last week’s Federal Budget, in which the instant asset write-off was extended, as well as a $300 million incentive for State and Territory Governments to cut red tape.
“The region’s small businesses are a big employer and the Government backs them through a year-long extension to the instant asset write-off and incentives to cut even more red tape. This will help our local small businesses keep creating jobs,” Mr van Manen said.
Small Business Minister Michael McCormack said Small Business Week in Queensland is a great opportunity to showcase the diversity and opportunity of the State’s small businesses.
“Every day I am inspired by the Australians I meet in small business, who are working hard to create jobs and opportunities around the country,” Mr McCormack said.
“It is small business – not Government – which creates jobs, and that’s why the Government backs small businesses to grow.
“We have cut the small business tax rate to its lowest level in more than 50 years and delivered a Budget with small business firmly in the driver’s seat.
“Last Tuesday the Government enshrined into law the definition of ‘small business’ as an annual turnover of $10 million – up from $2 million – meaning thousands more small businesses can take advantage of the lower tax rate and use the instant asset write-off.”
Mr McCormack said the instant asset write-off helps businesses purchase equipment up to $20,000 and write it off instantly against its tax.
“On my nationwide roadshow, I have met hundreds of people in small business who told me how the instant asset write-off helped them grow, expand and create more jobs.
“I listened and took that feedback to the Budget process and I am delighted Australian small businesses can use it for another year.”
Mr McCormack said the Coalition Government will continue to back small business.
“Bert van Manen and I know when small business does well, so does our country. We both ran small businesses before we were elected and we want to see the sector succeed,” Mr McCormack said.
“When we cut the small business tax rate, Labor voted against it.
“Our additional small business support from last week’s Budget is in jeopardy under a Labor Government, but Beenleigh small businesses can be confident the Coalition has their back.
To find our more, search ‘small business’ or visit https://www.business.gov.au/smallbusiness.