Talking Cents
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Small business news - Repeal of the MRRTFor the small business owners out there who have not yet caught up on the news the Federal Government successfully managed to negotiate its way through the maze that is the current Australian senate and finally pass the legislation to repeal the Mineral Resources Rent Tax. Whilst this is great news for the mining sector in Australia, it’s the impact on the small business sector that may well have the larger impact on our nation’s economy and its ability to generate new employment and economic growth for future generations. Small business owners in Australia should take careful note of the other amendments that have also changed as a result of the MRRT repeal.
So now with the mining tax gone as promised and greater certainty for employers, both large and small, over superannuation contribution changes it is to be hoped that the economy will get a boost, both from the legislated changes and the flow on into business confidence that comes from having certainty in Government policy for the short-term at least. |