Federal Member For Banks
Shadow Minister for Communications


David Coleman, Federal Member for Banks said the Government’s new $5.5 billion Growing Jobs and Small Business package will help small businesses in the St George area invest more, grow more and employ more.

“This is the biggest small business initiative in our nation’s history”, Mr Coleman said.

The Government is working to make small business stronger, to help create jobs. 

From July 1, incorporated small businesses will receive a 1.5% tax cut.  Unincorporated small businesses will also receive a 5% discount on their tax bill. 

“This will allow thousands of small businesses in the Banks electorate to keep more of the money they earn, and invest more in our local economy”, Mr Coleman said.    

In addition to the tax cut, small businesses will be able to claim a tax deduction for every asset they acquire that is valued up to $20,000.

“The Hurstville area and the Mortdale/Peakhurst industrial zone are vibrant parts of the local Banks economy. With an unemployment rate of just 3.8%, the local economy is already strong.  These measures will help to build on that strength, creating more local jobs”.

“There are more than 6,000 businesses in the Banks electorate. We need to do everything we can to help these local employers”.

Local entrepreneur, Mr Matt Alderton, owns three small businesses in Mortdale, including Buzz Bar Espresso, Network Video and a Subway store.

“The $20,000 tax deductibility initiative will enable me to grow my businesses”, Mr Alderton said.

“I will be able to purchase new equipment that I would otherwise not have considered. The 5% discount on my tax bill will also make a real difference”.