Hear from Treasurer Scott Morrison on how the Turnbull Government is continuing to deliver its 2017 budget at a CCI Breakfast with the Treasurer event on June 30.
Morrison will focus on how Budget measures are providing benefits to Western Australian families and businesses.
WA SMEs welcomed the announcement in the May 9 federal budget that the 12-month $20,000 asset write-off concession would be extended to June 2018. It was first introduced in 2015-16.
The concession was made available to more SMEs, with the eligibility extended to businesses with aggregate annual turnover less than $10m—five times higher than the previous turnover threshold.
the Federal Government also provided a clear green light for growth by restating its commitment to a 25 per cent company tax rate for all businesses.
The Government announced it would reduce the corporate tax rate progressively from 30 per cent to 25 per cent in the next decade, and confirmed in the budget the measure would stay on the books.
Despite the positives for business, GST remains at the heart of WA’s budgetary ills with reform to the GST distribution system still needed.
The budget outlined a $1.6b infrastructure commitment that will go toward road and rail projects as well as a $226m GST top up payment that will keep WA's GST share at 2014-15 levels.
CCI’s 9000 Members have identified the GST carve up as a key area of concern for WA businesses.
In recognition of the disparity, the Federal Government announced a Productivity Commission inquiry into the impact of GST sharing arrangements on national productivity and growth, with a final report due at the end of January next year.
Take the opportunity to share breakfast with Morrison and ask questions about the federal budget at the Granite Room, Perth Arena on June 30.
►Book your tickets to Breakfast with the Federal Treasurer here.