Tax cuts to boost jobs and wages

The government will deliver a tax cut for around 3.2 million small and medium Australian businesses, employing over 6.5 million workers.

Company tax is a tax on workers, a tax on jobs and a tax on wages.

Small and medium Australian businesses with turnovers of less than $50 million a year will benefit.

This reform will deliver jobs and increase wages. It is an excellent outcome for Australian workers and their families.

Companies with a turnover of less than $10 million will receive a reduction in their tax rate (to 27.5%) this financial year.

All types of businesses benefit from these changes, including 2.3 million unincorporated businesses. 

This reform fully delivers in this term on a key election commitment. But the job is not over – we remain committed to delivering our full plan for economic growth and employment.

Earlier this week we passed the Diverted Profits Tax. By making sure multinational companies pay their fair share of tax, we can ensure the tax paid by small and medium enterprises is as low as possible.

Businesses and the people they employ are not the only beneficiaries of the package that passed the Senate this evening.

The Government will pursue additional measures to put downward pressure on energy prices, building on our existing policies.

Recognising that our energy reforms will take time to fully implement, we will provide a one-off payment of $75 for single recipients and $125 for couple recipients of the Aged Pension, the Disability Pension and the Parenting Payment.

The additional measures to tackle power prices include increasing gas supply, including a potential NT-SA pipeline, accelerating solar development, improving price transparency and a Productivity Commission inquiry to complement the ACCC review.

We thank the crossbench for its support. Unfortunately, once again, Labor let down businesses and the people they employ, voting against measures that will increase jobs and generate growth.

It is further evidence of the obvious: Bill Shorten has no plan for jobs and no plan to grow the economy.



WATCH: Picardo – “It is only fair, proper and right that any trade deal should apply to Gibraltar.”

 

Published:

3 comments for: WATCH: Picardo – “It is only fair, proper and right that any trade deal should apply to Gibraltar.”



WATCH: Fallon – “Gibraltar is going to be protected all the way”

Last updated: April 2, 2017 at 5:01 pm



Inflammatory comments like those by Michael Howard will not help Britain get what it needs from Brexit negotiations – Thornberry

Emily Thornberry MP,
Labour’s Shadow Foreign Secretary, remarking on former Tory Leader Michael
Howard’s comments, said:

“Inflammatory comments
like those by Michael Howard will not help Britain get what it needs from these
difficult Brexit negotiations. Sadly it’s typical of the botched Tory approach
which threatens a bad deal for Britain. 

“Labour is clear that the
sovereignty of Gibraltar must be protected and that the interests of British
citizens in Gibraltar are safeguarded.”

Ends



West End Ward Surgeries

Now that the school Easter holidays are underway, my usual weekly ward surgeries do not take place, but I can still be contacted on any local issues or concerns through my e-surgery – just e-mail esurgery@frasermacpherson.org.uk.

Surgeries recommence on Monday 17th April – surgery details are available here.

I can also be contacted at home at any time on 459378 and also during office hours at my Dundee City Council office on 434985.