News & Views

10th May 2017

Small Business and Infrastructure opportunities for Electrical Contractors

10 May 2017

“Whilst there are no big ticket items for our sector in the 2017/18 Federal Budget, a stable economic outlook, coupled with increased infrastructure spending and small business concessions will be a benefit to the industry,” said the Chief Executive Officer of the National Electrical and Communications Association (NECA), Mr Suresh Manickam.

 

“NECA is pleased with the Government’s commitment to infrastructure expenditure through their pledge of $70 Billion towards the Building Australia fund. Not only does this fund include the establishment of the new Western Sydney Airport, but also upgrades to rail infrastructure including, full funding for the Melbourne to Brisbane Inland Rail project, Perth’s Metronet rail project and Victoria’s regional rail network. All these projects present strong opportunities for growth across our sector.”

 

“We note the Government’s commitment to reducing company tax, with a cut to 27.5% for incorporated small businesses with an annual turnover threshold of $50 Million from 2018/19.  This has been extended from $10 Million announced in last year’s budget and we will continue to pressure the Government to ensure that the long-term goal of a 25% company tax rate is delivered,” Mr Manickam said.

 

“The extension of the $20,000 Instant Asset write-off program for another twelve months along with an increased turnover threshold to $10 Million also presents opportunities for our SME businesses to improve cash flow and replace or upgrade assets and tools.”

 

“As a significant player in the vocational education and training sector, NECA also notes the Government’s establishment of the Skilling Australians Fund to underpin apprenticeship support however, we await further details of this announcement.”

 

“Earlier this year, NECA put together its Pre-Budget submission to the Government and like many other industry bodies, the bulk of our suggestions have not been taken up.  We see this as a missed opportunity for the Government, particularly in the area of mature-age apprentices to help solve and fulfil skills gaps within industry sectors with high demand, such as electrical work,” said Mr Manickam.

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