June 15 was a great day for Forde’s hard working small business owners with the Senate approving the Coalition’s tax cut for small business companies.
Federal Member for Forde, Bert van Manen MP said the tax cut was part of the Coalition Government’s Growing Jobs and Small Business package.
“The Senate also approved changes to the small business instant asset write-off, which will help small businesses grow their business, improve cash flow and give them the opportunity to employ more staff,” Mr van Manen said.
“These two measures cut the small business company tax rate to its lowest level in almost 50 years, and gives all small businesses an immediate tax deduction on any asset they buy costing up to $20,000.”
Mr van Manen said the Growing Jobs and Small Business package was the biggest small business boost in our nation’s history.
“Small business is the backbone of our economy, employing more than 4.5 million people and our government is committed to helping this industry grow.
“Australia’s small business owners now have more support to invest in their business, employ more people and remain competitive in an ever evolving economy.”