The Abbott Government has improved it’s already stellar reputation on supporting small business and creating local jobs with the $5.5 billion Growing Jobs and Small Business package.
Scott Buchholz, Federal Member for Wright says the package will go a long way to support small businesses including tradies in Wright to invest, hire and grow.
“This package delivers the lowest small business company tax rate in almost 50 years which will leave more in the pockets of hard-working small business owners who are huge contributors to the prosperity of local economies such as ours”,
“Perhaps the best news of all for locals from café owners to the local plumber with a turnover below $2 million can claim immediate tax deductions for assets they acquire valued up to $20,000. This will prove very helpful for local businesses looking to expand, upgrade or start-up” said Mr Buchholz.
Mr Buchholz was excited by measures in the budget which encourage business entrepreneurship and start-up.
“As a former small business owner I am well aware of the difficulties and anxieties associated with starting a new business. This budget strives to amend some of that which will hopefully entice new businesses into our area”,
“Locals starting up a business can immediately deduct professional expenses incurred such as legal fees and the business registration process has been significantly streamlined to save time and effort” said Mr Buchholz.
Mr Buchholz was also excited by the added job opportunities which come as a result of this package, particularly for areas such as Springbrook which has an unemployment rate above the national average.
“Small businesses are the largest employers in our local economy and supporting them is crucial for supporting local people into work” said Mr Buchholz.
Further details on the Government’s Growing Jobs and Small Business package can be found at www.budget.gov.au