Small business tax relief appreciated
THE extension of the small business asset write-off program has small businesses on the Gold Coast breathing a sigh of relief.
But for Southport Santo Didgeridoo owner Peter Santo, he said it did not go far enough, especially for indigenous small business owners.
“Unfortunately with this Budget, the $20,000 is OK, but do indigenous businesses get a go out there?” he said.
“There’s nothing in there for indigenous businesses. I would have liked to see a particular fund to get them off the ground ... I’m still hurting badly from the Commonwealth Games.”
The Government’s asset write-off scheme means small businesses can immediately deduct the business portion of most assets if they cost less than $20,000.
Greg Hill, of Caffene Break at Runaway Bay, said he would have also liked to have seen penalty rates restructured, though he was pleased the $20,000 tax break was continuing.
He said small businesses, especially cafes, relied on opening their doors every day but high penalty rates made this impossible.
“I’d like to see penalty rates changed for weekends and public holidays,” he said.
“It’s like robbing Peter to pay Paul, just change the structure of penalty rates. It would be good for businesses.”