HELPING THE HUNTER’S SMALL BUSINESSES GROW
5 July 2017
SMALL businesses throughout the New South Wales Hunter Valley are set to grow and create even more jobs thanks to tax cuts and practical support from the Federal Government, Senator John Williams says.
"Small business is the engine room of our economy. It employs millions of Australians and is the backbone of our country towns like Muswellbrook and Cessnock," Senator Williams said.
As the small business roadshow stops in Muswellbrook and Cessnock over two days, Senator Williams said the Federal Government values feedback from small businesspeople in their operations.
"They have challenges such as competition from big business, the increase in online sales and even getting paid on time. We must do everything possible to support them," Senator Williams said.
"I know they are looking forward to meeting Small Business Minister McCormack and the representatives of the government agencies to hear more about the support which is available."
Mr McCormack said the Federal Government recently cut the small business tax rate to 27.5 per cent and redefined ‘small business’ so 99 per cent of businesses are eligible for the $20,000 instant asset write-off.
"27.5 per cent is the lowest small business tax rate since the Second World War and by redefining ‘small business’ to an annual turnover of $10 million, up from $2 million, tens of thousands more small businesses can now purchase the equipment they need and write it off immediately," Mr McCormack said.
"Wacka Williams and I both ran small businesses before we were in Parliament, so we know it is small business that creates jobs.
"That’s why our tax cuts and extension to the instant asset write-off are geared to help small businesses expand, pursue new ideas and most importantly; create more local jobs."
Mr McCormack said country communities prosper when locals shop locally.
"In every community across the Hunter I know there are small businesses from which you can purchase whatever you need," Mr McCormack said.
"By shopping locally, you keep more money in country communities, which helps strengthen country economies and create country jobs.
"Together we can help our small business sector to keep doing what it does best."
Policy forums were also held in Muswellbrook today and will be in Cessnock tomorrow at which Hunter MP Joel Fitzgibbon is an apology.