19 June 2015
Small businesses throughout Bonner are set to receive a boost with some crucial budget measures passing through the Senate on Monday night.
Member for Bonner, Ross Vasta encouraged businesses to take a good look at how they can benefit from these exciting support measures.
“These are two of the really exciting and energising items in the budget designed to help ease the burdens carried by many small business operators, Mr Vasta said.
Bonner is home to over 12,317 small businesses, employing a significant amount of local residents. These small businesses are now experiencing the lowest company tax rate in over 50 years.
Additionally, small businesses are also able to claim the instant asset write off of any asset they buy costing up to $20,000.
These important supportive mechanisms make up the centrepiece of the ‘have a go budget’.
“Coming from small business, I know the costs associated with investing into your business and I’m thrilled the entrepreneurial ones amongst us now have an added incentive to grow their businesses and employ people, Mr Vasta said.
Bonner Businesses are encouraged to go to the Australian Tax Office’s website to see how these changes will affect them.