Mr David Coleman MP, Federal Member for Banks, has hosted the Treasurer, Scott Morrison at a small business budget briefing in Panania.
Around 40 small business owners attended the forum which was held at the Salvation Army Church Hall on Tower Street Panania.
The Treasurer spoke about the Budget and the need for ongoing regulatory reform as well as initiatives related specifically to small business. These included the instant asset write-off that was extended in the budget and the fact that last year the definition of small business had been expanded to include businesses of up to $10 million in turnover.
“The briefing gave local business owners the opportunity to raise the issues that were most relevant to their businesses directly with the Treasurer” said Mr Coleman.
“Topics raised included Entrepreneurship and Venture Capital as well as the cash flow impact of large businesses withholding payments from small businesses” Mr Coleman said.
The housing affordability measures included in the budget were also discussed as were the new rules eliminating travel deductions related to investment properties.
“The ability to salary sacrifice into superannuation is a targeted measure that will help those many local residents who are saving hard for their first home”, Mr Coleman said.