Members' News |
Pitcher Partners welcomes the Turnbull Government’s efforts to back small business and invest in infrastructure to grow the Australian economy.
“We welcome the government’s extension of the $20,000 instant asset write-off for businesses with turnover of less than $10m,” said John Brazzale, Managing Partner at Pitcher Partners.
“We know that this assists small businesses in reinvesting and growing their businesses.
“However, we are disappointed that more has not been done to lower taxes and extend the instant asset write off to mid-sized businesses.
“Middle market businesses are the backbone of the economy. The Turnbull Government has missed the opportunity to make a real difference in the middle market, given that the middle market accounts for around one third of economic activity.
“Our clients sought greater simplification of the business environment, including lower taxes, and little has been done in this area to build on last year’s cuts.
John Brazzale also praised the government’s infrastructure commitments.
“We’re happy to see a focus on genuinely productive, targeted transport spending in the Budget.
“In particular, the billions of dollars in infrastructure commitments should encourage investment in nation-building projects that help businesses to move goods, services and capital around the nation.
“The direct and indirect job creation that stems from these infrastructure investments will assist mid-market businesses in expanding their markets and supply chains, creating growth across Australia.
“Our one concern on this front is that the government has not given any indication of support for public-private partnerships, which we see as critical to ensuring the construction and associated industries can grow as a result of this increased spend.
SOURCE: PITCHER PARTNERS
WRITTEN BY SABINE BURROWS, 9 MAY 2017
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