SMEs anticipating Federal Budget: Chamber
BUDGET 2018-19 is expected to be released at approximately 7.30pm on May 8 next week and Toowoomba businesses will be looking with interest at a number key items ranging from whether the $20,000 immediate asset write-off is to be extended through to proposed company tax reductions.
Other issues of importance and interest to business and our community include ensuring the future of NDIS, suggestions of restrictions on negative gearing of investment properties and significant infrastructure investment including Inland Rail.
We are seeing some pre-budget announcements now including the unveiling of a $400 million package for the Great Barrier Reef and a commitment to reducing pressure on low to middle income earning families.
Other key themes in the budget will no doubt be housing affordability, the cost of living and inflation.
Over the past year, there has been an underlying focus on the economic standing of Australia and this has been highlighted by the Federal Government as a key issue with many predicting a further commitment in this year's budget to strengthening our nation's financial health.
Join the chamber and RSM (professional services firm) for our budget breakfast on Thursday, May 10 where we will go through some of the detail of the budget and hear from community leaders on the implications and opportunities for our local business community and economy. Book now at toowoombachamber.com.au.
Later this month we look forward to the launch of the 2018 Heritage Bank Business Excellence Awards.
This annual initiative is a fantastic way to acknowledge and celebrate the success of some of our leading local businesses and I encourage you to get involved this year. Further information will be issued over the next month or two, so watch this space.