South West small business boosted by lower tax

Member for Forrest Nola Marino said South West small businesses are the focus of the Turnbull Government plan for lower taxes, more jobs and opportunities.

“The Turnbull Government is working on a daily basis to create jobs and economic growth across Australia,” Mrs Marino said.

Joined by Federal Small Business Minister Michael McCormack in Busselton and Bunbury yesterday, Mrs Marino said the local forms will give more small businesses the information and tools they need about the Federal Government’s small business support.

“Only the Turnbull Government understands the economy, and only the Turnbull Government creates a prosperous economic environment,” Mrs Marino said.

“Employment rose by 60,900 in March, exceeding all market expectations, to create a historic moment of over 12 million Australians in employment for the first time.

“A mammoth 593,900 people are in jobs since the Turnbull Government was elected over three and a half years ago, illustrating that the Government’s long-term economic plan is working.”

Mr McCormack said the Government’s small business tax cuts enable more small businesses to pursue their dreams and create local jobs.

“Nola Marino and I both ran small businesses before we were in Parliament – that’s why we know it’s the small businesses across the South West – not Government – which creates local jobs and opportunities,” Mr McCormack said.

“Every day I meet Australians in small businesses who are taking a risk, pursuing their dream and creating jobs. That’s why the Government backs small business with a tax cut and why we’re redefining small business, so more Australians can take advantage of our support.

“By redefining small business to an annual turnover of $10 million, more small businesses now pay lower tax and can use the $20,000 instant asset write-off programme to invest in growing their business.”

Mr McCormack said the instant asset write-off gives small business the ability to upgrade equipment and modernise operations, so businesses continue to grow.

“Whether it’s a new photocopier, tradies’ tools, an iPad or coffee machine in a café – anything to help the business grow – more small businesses can instantly write the purchase off against their tax, up to $20,000, thanks to our tax cut plan,” Mr McCormack said.

“The Federal Government backs the dreams of hardworking Australians in small business and we want to see them continue to invest, grow and create more jobs well into the future.”

You can find out more by searching ‘small business’ or visiting business.gov.au/smallbusiness.