News & Views

29th June 2018

29 June: Labor reverses position on small business tax cuts

29 Jun 2018

Following calls from the National Electrical and Communications Association (NECA) and a wide range of industry stakeholders, the Labor Opposition has today reversed its opposition to the Government’s legislated, company tax cuts for businesses with an annual turnover of up to $50 Million.  

“NECA welcomes this decision as recognition of the challenges facing small and medium businesses (SMEs) across Australia,” said CEO Suresh Manickam.

“We note that the Labor Opposition, having recognised that the proposition to change already implemented company tax reductions would create great economic uncertainty – have chosen to reverse their policy position, should they be elected to Government at a future election.”  

“Rolling back the Government’s long-term plan to reduce company tax rates to 25 per cent for family owned SMEs never made sense and it is encouraging to see the ALP has responded to the many voices representing Australia’s small business owners,” he said.

NECA has been a long-term advocate for the reduction of company tax as we believe this assists the growth and competitiveness of our industry and helps electrical contractors to create additional employment opportunities.  

NECA will continue to advocate for further measures for small businesses which will reduce the regulatory and administrative challenges faced by Australian family businesses.

-ENDS-

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