Small businesses in Dobell: Supported by Gillard Labor, abandoned by Tony Abbott
Craig Thomson,Nick Sherry
posted Thursday, 29 July 2010
Assistant Treasurer, Senator Nick Sherry, and Federal Member for Dobell, Craig Thomson today highlighted that if Tony Abbott was elected Prime Minister, 11,037 small businesses, sole traders and partnerships in the electorate of Dobell would lose access to instant tax breaks.
The Gillard Labor Government will introduce an immediate tax write-off of $5,000 for small business companies, sole traders and partnerships, up substantially from $1,000.
Tony Abbott has committed to dumping this important tax reform that would benefit hundreds of thousands of small business operators across Australia.
Seventy per cent of small businesses are not companies – they are sole traders and partnerships. Mr Abbott’s policy would do nothing for the majority of small business because it would leave unincorporated small businesses without tax relief or tax simplification.
When combined with the electorate of Robertson, more than 24,000 Central Coast small businesses, sole traders and partnerships would be denied the instant tax break benefit by Tony Abbott.
A Gillard Labor Government would also cut the company tax rate to 29 per cent for small business companies in Dobell from 1 July 2012, one year ahead of Tony Abbott’s commitment.
Craig Thomson highlighted that “small businesses are the backbone of the local economy in Dobell and a vote for the Liberal National Coalition is a vote against small business, jobs and our local economy.”
The Gillard Labor Government has a strong record on business tax and business support, especially through the global financial crisis, when we put in place the General and Small Business Tax Break.
Our record shows that the small business community in Dobell can only trust Labor and Craig Thomson on 21 August.
Tags: business, Central, Coast, Craig, Dobell, Nick, Sherry, small, tax, Thomson