The Nationals Federal Member for Mallee John Forrest has welcomed the announcement that a Coalition Government will cut the company tax rate by 1.5 percent.
From 1 July 2013, all businesses across Mallee will benefit from the cut in the company tax rate from 30 percent to 28.5 percent if the Coalition wins government.
“Small businesses in Mallee are the engine room of our local economy. A cut in the company tax rate will flow through to consumers by reducing costs to business and helping to boost investment and jobs in regional areas,” Mr Forrest said.
“This important tax reform will reduce the costs of business and deliver lower prices for consumers. It will make Australia’s tax regime more competitive on the international stage and make Australia a more attractive place to do business.”
Mr Forrest said it had been estimated that the measure would cost $2.55 billion over the forward estimates. The funding will be provided from the nearly $24 billion in recurrent savings that have been identified by the Coalition over the forward estimates.
“Small business deserves a fair go. A Coalition Government will reduce red-tape and improve small business access to Commonwealth contracts, especially in regard school infrastructure,” Mr Forrest said.
“The Coalition will provide small business with a direct line to Government through the establishment of a Small Business and Family Enterprise Ombudsman. Our Nationals team will also give small business a say in the development of taxation policy.
“In government, we are determined to ensure that it is easier, not harder, for small business to prosper and grow,” Mr Forrest said.
Media contact: John Forrest (03) 5032 4510
