Wednesday, 24 October 2018
Fish n Chip Co, Small Business
There has been some big news for Bonner recently. The winner of Queensland's best fish and chip shop was one of our very own in Wynnum West. Fish n Chip Co was named overall winner of the 2018 fish and chip awards at the Queensland Seafood Industry Awards—or the Queensland seafood industry Oscars, as they like to be called it. Was great to have a mobile office outside Fish n Chip Co the other day. I had a good chat with the owner, Demetri, about their success and the challenges of running a business in the current environment.
I know a little something about these challenges. I ran a few restaurants a number of years ago. I understand how every little thing adds up. Decisions that are made at the federal level mean the difference between surviving or having to lay-off more staff for millions of small businesses across Australia. That's why I'm happy to say, yet again, that this coalition government has delivered for Aussie small businesses. These are the small businesses, like Fish n Chip Co, that employ, when combined, almost seven million Australians and 408,000 people in Queensland alone.
Last month, we passed legislation to extend the $20,000 instant asset write-off for another 12 months to 30 June 2019. Local small-business owners continue to tell me how much this measure has helped them. Well over 1,000 local businesses in Bonner have benefited from this instant asset write-off alone. There are tax cuts for small- and medium-sized businesses that we delivered last week. Small- and medium-sized businesses will now pay less tax five years earlier than planned. This is great news for over 15,000 businesses in Bonner and over three million businesses across Australia. By fast-tracking this tax relief for businesses in Bonner, we will make a more immediate difference to the individual businesses and the people who work for them. It means more money for local business owners to employ more staff. When business owners like Demetri can keep more of their own money, they have more to invest back into their business. That means more jobs and increased productivity and growth.
This legislation builds on the first stage of company tax relief that we delivered in May last year. It stands in stark contrast to Labor's plans for higher taxes for small businesses, along with higher taxes on incomes, savings, property, power and more—around $200 billion in higher taxes. I look forward to seeing this government deliver more relief and more support for small businesses, like Fish n Chip Co, in my electorate. Congratulations again to Fish n Chip Co for their well-deserved award. It's always great to see outstanding small businesses in Bonner recognised for their high quality. I will just say that their fish and chips are truly some of the best that I've ever had.