Budget delivers incentives to grow

Bunbury businesses could find some relief following the delivery of the Federal Budget.

Announced by Treasurer Scott Morrison earlier this month, the Budget includes measures designed to boost small business.

In his announcement speech, Mr Morrison said as well as the recently legislated tax cuts, small businesses with a turnover less than $10 million would continue to be able to write off expenditure up to $20,000 for a further year.

“Small business owners are out there fighting for growth in their businesses every day. They deserve our respect and support,” he said.

Forrest MHR Nola Marino said small businesses would be supported through a number of measures.

“The instant asset write-off will continue for a further year great news for small business,” Mrs Marino said.

“We are encouraging States to cut red tape with a $300 million incentive through the National Partnership on Regulatory Reform to reduce regulatory burdens and remove unnecessary restrictions on competition.”

Source: South Western Times.