Bt_by Zhuo
Bt_by Zhuo
  • Home
    • About
    • Contact Us
  • News
  • Projects
  • Business
  • Products
  • Subscribe to Magazine
  • Free Trial Subscription

Builders back fast tracking SME tax relief

Wednesday, October 24th, 2018Business, NewsOnline Editor

Industry group Master Builders Australia has welcomed the Federal Government's decision to fast track tax relief for SMEs, noting that more than 370,000 building businesses will benefit from the move.

“This is great news for builders, including the many who are sole traders, and the economy,” says Denita Wawn, CEO of Master Builders Australia.

“We have more small businesses in building and construction than any other sector of the economy and this is a heartland issue for Master Builders. We have been very direct in calling for greater tax relief for these businesses and the government's move is absolutely the right thing."

Businesses with a turnover below $50 million will be subjected to a tax rate of 25 percent as early as 2021-2022, rather than the planned introduction set for 2026-2067. The current small business tax rate is 27.5 percent.

Wawn says that the quicker tax relief will motivate industry players to invest more in their businesses including plant and equipment and training, engage more tradies and train more apprentices.

“SME tax relief is a no-brainer, which will be strongly supported by small builders and tradies around the country. We call on everyone in the Parliament to back the legislation when it’s introduced,” adds Wawn.

Image: 123RF's Aleksandr Kalugin © 123RF.com

 





Leave a Reply Cancel Reply

Your email address will not be published.


Comment


Name

Email

Url


Recent Posts

  • Victoria’s largest mass timber project completed at La Trobe University
  • Grain is good with Fairview
  • Decision-makers in construction need re-education on their views toward people living with disability
  • Coles and partners Replas, Red Group and RMIT install largest Polyrok pour
  • Common discrimination and no support – the plight of women in construction
Load More...Follow on Instagram








©2019 Niche Media. All Rights Reserved. Terms & Conditions| Privacy Policy

This website uses cookies to provide you with the best browsing experience.

Find out more or adjust your settings.

Better Building Daily
Powered by GDPR plugin
Privacy Overview

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.

Strictly Necessary Cookies

Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings.

If you disable this cookie, we will not be able to save your preferences. This means that every time you visit this website you will need to enable or disable cookies again.