Having legislated tax cuts for small and medium businesses, the 2017-18 Budget builds on the Coalition's support for the small business sector and recognises that it is small business not government which creates wealth, grows the economy, and drives employment.
We have extended the very popular instant asset write-off for a further 12 months to 30 June 2018.
Many businesses on the Gold Coast have been taking advantage of this measure since we first introduced it in 2015. It's designed to improve cash flow, helping you to reinvest in your business and replace or upgrade your assets.
I'd encourage you to think about how your business could benefit from the $20,000 instant asset write off, if you haven't already used it.
The Coalition Government is also helping to create a stronger small business sector by removing unnecessary regulatory burdens and reducing red tape.
This Budget includes a $300 million incentive to State and Territories to cut red tape. We know this is top of mind for small business owners the less time you spend doing paperwork the more time you can spend growing your business.
The Coalition has delivered $5.8 billion of red tape reduction since we were elected and we'll never stop looking for ways to make it easier for you to run and grow your business.
Our record investment in apprentices will help get more young Gold Coasters into work, and help you and other employers fill skill gaps and invest in your business.
Just in my electorate, about 2,400 locals aged 15-24 are looking for a job or looking for more work. The Skilling Australians Fund will deliver the skilled workforce you need and provide new opportunities for job-seekers.
While the Coalition is focused on giving our small businesses the tools they need to thrive, Bill Shorten has confirmed a small business tax hike is front and centre of Labor's economic plan.
For a city like ours, boosted by the success of small business, a small business tax hike just makes no sense. It will make your business less competitive, stifle investment, and reduce job opportunities.
Labor's policy reveals they have no clue about how important small businesses are to our economy, and proves they would risk the future growth of the Gold Coast's small businesses with their big taxing, big spending plan.
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Minister for Trade, Tourism and Investment
Federal Member for Moncrieff
67 Thomas Drive, Chevron Island Qld 4217
PO Box 4922, Gold Coast MC Qld 9726
T (07) 5504 6000
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PO Box 3918, Robina Town Centre,
Gold Coast 4230
07 5578 7184