“The welcome announcement that the Federal Government intends to bring forward the small business tax cuts will boost investment and employment with these benefits spread widely across the Australian economy,” Australian Industry Group Chief Executive, Innes Willox, said.
“Importantly the cuts will extend to unincorporated small businesses which will enable them to deliver higher cash flows and more activity in this very important part of the economy.
“As well, the lower company tax rate will provide additional incentives for their owners to plough more profits back into their businesses, adding to employment and productivity.
“Such business tax relief should have bipartisan support and we urge Labor and all cross-bench MPs to support the legislation in the Parliament,” Mr Willox said.
Source: Ai Group