As the 2016 Federal Election approaches, both parties have promised increased attention to small businesses and have shared pre-election plans to cut taxes and support printers in an industry under duress.
A representative for the Coalition government from the Libs told ProPrint small and medium-sized enterprises will benefit from tax cuts and job support to help drive the economy in industries such as print.
“A re-elected Turnbull Government will implement a Ten Year Enterprise Tax Plan that will boost new investment, create and support jobs and increase real wages,” says the Coalition spokesperson.
“The plan starts with tax cuts for small and medium-sized enterprises that will permanently increase the size of the economy by just over one per cent in the long term.”
[Related: Printers happy with Federal Budget]
The Labor party’s stance on small business sectors promise similar lower tax rates and a scheme labelled New Jobs Tax Cut to boost smaller printers’ ability to hire new staff.
“In 2015, we invited the Government to co-operate on cutting the tax rate for Australian small businesses. We meant it then – we stand by it now,” says a Labor campaign spokesperson.
“Labor will support a cut to the company tax rate for small businesses with a turnover of less than $2 million a year, taking the rate to 27.5 per cent. This will apply to 83 per cent of all businesses.”
“And we will go further by letting small businesses claim a deduction of up to $20,000 per worker to offset the wages of up to five new employees through our New Jobs Tax Cut. This will boost jobs while reducing the red tape burden on small businesses, who just want to get on with running their business, not filling in paperwork.”
Government plans to ease the strain in a struggling industry are a high priority for voters from the print industry.
A ProPrint poll to readers found 58 per cent of printers will vote in the interest of their business on Election Day, and only 8 per cent believe both parties will help to serve print companies.
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