Small businesses provide 4.5 million Australians with their jobs. They provide 4/10 jobs in the private sector, 6/10 in construction and 8/10 in agriculture.
The Coalition Government’s Budget cuts the small business company tax rate to the lowest in almost 50 years and, for two years, we’re giving all small businesses an immediate tax deduction on any asset they buy costing up to $20,000. This will benefit more than 95% of all Australian businesses.
I was thrilled to be able to welcome the Prime Minister and the Hon. Bruce Billson MP, Minister for Small Business, to Reid this morning to discuss the fantastic benefits that the Budget delivers with small business owners and young entrepreneurs.
I extend my heartfelt thanks to my friends in the Sydney Young Chinese Business Association, the Australia China Business Summit and the Sydney Inner West Chinese Business Association for their invaluable assistance in making this morning such a great success.
Details of where to find the full gallery of photos from this morning are to come – stay tuned!