Lower taxes for small business in Durack
May 7, 2019
Federal Member for Durack Melissa Price said she’s backing the more than 17,000 small, medium and family businesses in her electorate who are benefiting from the Morrison Government’s tax relief reforms.
“These small businesses are the backbone of the Australian and Durack economy,” Ms Price said.
“The Federal Government has already lowered taxes for around 3.4 million small and medium-sized businesses employing over seven million workers to help them get ahead and create jobs.”
Our plan for lower tax for the 17,327 small businesses in Durack will:
- Fast-track the company tax rate cut to 25 per cent for small and medium sized businesses. A lower tax rate means more money to reinvest back into the business and create more jobs for Australians.
- Increase the Instant Asset Write Off to $30,000 and extend it to medium businesses. That will help businesses to get the equipment, tools and vehicles they need.
The Morrison Government's economic plan is in strong contrast to Bill Shorten and Labor, who want to hurt Australians with higher taxes on small and family businesses, retirees, housing, income, investments, electricity and cars.
“I’m proud of the Morrison Government’s record on backing small businesses in Durack, but it is clear Bill Shorten just has a plan for higher taxes,” said Ms Price.
“Each and every one of Labor’s higher taxes are bad for small businesses right here in Durack.
“Not only would Durack small, medium and family businesses suffer directly from higher taxes, they would be hurt by the flow-on effects of a weaker economy.”
Bill Shorten and Labor want to be the highest taxing Government in Australia’s history. They are proposing a dangerous experiment our economy can’t afford.
Bill Shorten and Labor do not believe in enterprise and aspiration. They seek to weaken our economy and provide less opportunity for small business to thrive.