MORE than 15,450 small and medium sized businesses in the Moore electorate will receive tax cuts as part of the Federal Government’s Enterprise Tax Plan.
Moore MHR Ian Goodenough said the cuts would allow 279,345 businesses in WA, such as butchers, newsagencies and pubs, to keep more of the money they earnt to invest and grow their business and employ more people.
“Nationally, these tax cuts will put $5.2 billion back into the hands of small and medium sized businesses to expand on their hard work,” he said.
“Once the Enterprise Tax Plan is fully delivered, it will permanently increase the size of the economy by 1.2 per cent of gross domestic product – that’s more than $17 billion in today’s dollars every single year.
“Passing these cuts is critical to growing the national economy because seven out of eight people are employed by private enterprise.
“Small and medium sized businesses with a turnover of up to $50 million will benefit from the tax cut.
“Hard working families who own and run their own companies are the engine room of the economy.”
The MP and Employment Minister Michaelia Cash recently visited Hillarys Shopping Centre to explain to businesses there how the tax cuts would help them.
Hillarys Fish Market manager and shareholder Brandon Cross said the money saved would go towards running the shop and making sure “systems don’t fail”.
“It’s a tough economy at the moment – those little things help,” he said.
The store opened about two-and-a-half years ago and currently employs seven people.
Having worked in the seafood industry for 15 years, Mr Cross said 90 per cent of the store’s products were from WA and most fish were line caught in WA.