Introducing new legislation to reduce SME’s tax and create a $20k asset write-off
Federal Minister for Small Business, The Hon. Bruce Billson, presented ‘Energising Enterprise’ which focused on stimulating the small business sector.
During the presentation he talked about the value of reducing red tape, putting an end to over-regulation, removing roadblocks to start-ups, all of which would leave small business owners to concentrate their energy and effort into their core business.
Some of Billson’s innovative ideas for incentivizing people to launch new businesses were to give small business a tax-free period of five-years from start up, and the already-legislated new measures to reduce company tax rate and a $20,000 immediate asset write-off.
Billson’s session was one of the highlights of Xerocon 2015 and provided much food for thought around stimulating our own local small business economy.