Page 1470 - Week 05 - Wednesday, 4 May 2016
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I couple that with the tax changes that have been announced for small business. Reducing the company tax rate for small businesses to 27.5 per cent and increasing the turnover limit to $10 million mean that more small businesses in this country are now on the lower tax rate. This means that they are going to have the opportunity to think about hiring new staff, making new investments, innovating in new areas.
These are what the drivers are going to be of our economy in the future. Rest assured, Madam Deputy Speaker: in June, in the next sitting period, when the Chief Minister and Treasurer stands up in this place, he will undoubtedly have found a way to take that tax concession and more away from local businesses in this city. Rest assured!
The federal government has taken some lead out of their saddlebags to let them go forth and do what they do best: innovate, create jobs and create opportunity. But Mr Barr will be standing there with weight to put back in those saddlebags. Rest assured; be it a rates increase, be it an increase in licence and registration fees, be it an increase in vehicle rego, Mr Barr will undoubtedly find a way to make business in this city struggle.
He has done it year on year on year. It counters all the good work that is being done at the federal level. I hear so many local businesses say, “I am moving to Queanbeyan because it is more effective for me to be operating over the border than it is to be in the ACT.” That is a sad indictment of the Chief Minister and Treasurer and no-one else.
Do not blame the federal government. They are controlling the settings across the country. If there are businesses leaving Australia, that is a federal issue. When they are leaving our city, the Chief Minister and Treasurer, being one and the same, is the one person who is wholly and solely responsible.
I look forward to local businesses that have been relieved of this taxation burden spreading their wings and then taking the opportunity of other initiatives that were announced in the budget last night, like the internship program for young people; 120,000 jobs across the country are likely to be created off this initiative. That offers the opportunity for those that have been long-term unemployed and who are stuck on Newstart or allowances to be given a boost by participating in the scheme. I think the federal Treasurer announced last night an extra $200.
Canberra is an expensive place to live. It is even tougher if you are on a welfare benefit. But to be given the opportunity to learn some skills in a trade or an industry and to be paid an extra $200 a week for the privilege I think is a good initiative to make it that little bit easier for these people to get ahead and get a start in life.
To recognise the contribution that businesses make and to share the risk, the federal government is going to help those businesses that participate in the scheme by paying $1,000 to cover some of the costs associated with covering the insurances, the training and the investment that they will make in giving young people a start and developing skills for the future.
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