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SME Tax Cuts

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Labor has listened on SME tax cuts.

“Master Builders applauds Labor’s decision to reverse its earlier decision to repeal tax cuts for small businesses that turnover between $10 million and $50 million,” Denita Wawn, CEO of Master Builders Australia said.

“Labor deserves credit for this decision. It shows that they have listened to the concerns of thousands of SME builders.

“Company tax cuts for small and medium business is heartland issue for Master Builders as SME builders make up 98 per cent of our members and of our industry. We have been very direct in saying that scrapping tax cuts is the wrong call and Labor has listened.

“However, we note that this decision applies to tax cuts that will already be implemented if Labor was to win the next Federal Election and not the future cuts that have already been legislated with the strong support of the Parliament including the Senate crossbench. Master Builders will continue to constructively engage with Labor on further reductions in company tax for SMEs.”

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