The Courier-Mail

Incentives in Budget lift industry


TREASURER Joe Hockey’s second Budget has gone over well with small businesses, with close to 60 per cent backing the government’s $5.5 billion support package, according to a recent survey.

Businesses with less than $2 million turnover will be able to immediatel­y write off assets worth less than $20,000.

Incorporat­ed small businesses will also receive a 1.5 per cent tax cut, while unincorpor­ated businesses with receive a 5 per cent tax discount.

Of those covered by the package, 58 per cent said the Budget will have a positive effect on business, according to research by DBM consultant­s.

But 27 per cent said the Government had not done enough for small business.

The Budget was less popular among those with a turnover greater than $2 million, with only 41 per cent saying it would be good for business.

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