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Federal Budget loves Bennelong’s Small Businesses

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Over 14,000 small businesses in Bennelong are the big winners in the 2015 Federal Budget, with a $5.5 Billion dollar small business package rolling out shortly.

In recognition that Small Businesses are the engine room of our economy as well as the heart of our community, the budget put an emphasis on helping them grow, invest and create jobs.

This package will help employers in Bennelong to create jobs and assist Australia’s unemployed, particularly unemployed youth, to build the skills to get into work.

“This is the biggest small business initiative in our nation’s history” John Alexander MP, Member for Bennelong said.

“Businesses with a turnover of under $2 million will receive a cut in the company tax rate of 1.5%. Unincorporated businesses will also receive a 5% tax cut, saving up to $1000.”

“There are over 14,000 small businesses within Bennelong. These proposals will make it easier for them to get on and grow, bringing our community and country with them.”

“The Federal Government is wholly in support of small businesses, and shop local campaigns like my Bennelong Village Business Campaign which is encouraging all of Bennelong to get out and support our fantastic local shops.”

When he visited West Ryde in April, the Small Business Minister, the Hon Bruce Billson promised a suite of measures to improve circumstances for small businesses including measures to reduce the red tape and regulatory impediments that hinder small businesses growth. This includes reforms to Fringe Bennefits Tax and Capital Gains.

Commenting ahead of the budget, the Minister said: “I want to thank the member for Bennelong not only for his work for his small business community but for the great campaign he runs to encourage local members of his community to shop small and to shop local. I was there just a couple of weeks ago. We had a West Ryde small business forum, and you could not help but be encouraged by the positive response that we got to the program that we have already implemented and the progress we have made in supporting small businesses and in energising enterprise.”