MGA welcomes the Prime Minister's proposal to bring forward company tax cuts for small business
MGA welcomes the Prime Minister’s decision to bring forward tax cuts for small to medium supermarket, liquor stores and hardware outlets around Australia. Jos de Bruin, CEO of MGA Independent Retailers (Master Grocers Australia) said,” Our members are facing cost increases at a rate never seen before. Bringing forward a reduction in Company Tax for small businesses will inject more confidence and certainty to invest and grow their businesses, as well as employ more people”
Mr. de Bruin continued, “Small Business is often described as the “engine room” of the economy. They have borne the brunt of an avalanche of cost increases in recent years. Every way you turn there is a new cost increase to do business, whether it be increases in Saturday penalty rates for casual employees, increases in local council rates, high payroll tax, land tax and insurances is making it more and more difficult for family enterprises and private business to run profitably, employ people and invest in innovation to further grow in an ever challenging economic environment.
MGA is steadfast in its opinion that the incentive to run your own business has diminished in recent years and bringing this tax cut forward is like releasing a pressure valve and allowing small business owners greater relief and hope that they can stay in business a little longer.”
Mr. de Bruin concluded that, “By bringing these tax cuts forward an estimated three million businesses will reap the benefits much sooner than was anticipated. MGA applauds this proposal from Prime Minister Morrison as this announcement will give great encouragement to many struggling small businesses throughout Australia“.