Australia: Opposition against the federal government’s scrapping of tax break


The federal government of Australia will roll back the tax break that was extended to small businesses from January 1 onwards. Earlier, the small businesses were allowed a $6,500 instant asset write-off which will now be brought down to $1,000 only.

460753-billson-to-end-revolving-door-business-Small Business Minister Bruce Billson-global-annal-bhavesh-kumar

The news has been confirmed by Small Business Minister Bruce Billson’s office to which the opposition has responded to the development by calling it a “tax trap” for small business citing the fact that the decision has not yet been passed in the parliament. The so-called tax break was extended in relation to the mining tax.

 

Source: Businessspectator, news.com.au

Published by Bhavesh Kumar

A multi-talented media professional with diverse experience spanning across journalism (digital and broadcast), management consultancy and documentary filmmaking. Worked for the leading newspaper (the Times of India) and news broadcaster (NDTV India) on their web portal, feature stories, shooting, scripting, programming and editing broadcast news. A creative mindset focused on executing new-age strategic communication initiatives with all its corresponding elements (clear and coherently written key messages, social media marketing and multimedia content) to ensure effective target audience impressions. Also, worked on several primary and secondary market research projects (Market Feasibility Study) for business expansion into new markets.

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