30% Tax Break legislation introduced to parliament
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On 19 March 2009, the Federal Government introduced the Tax Laws Amendment (Small Business and General Business Tax Break) Bill 2009 into the House of Representatives.
The Treasurer – Wayne Swan – commenced the second reading of the bill. As recorded in Hansard…
I move: That this bill be now read a second time. This bill introduces the small business and general business tax break – a key part of the government’s Nation Building and Jobs Plan.
The $3.8 billion tax break will help boost business investment, bolster economic activity and support Australian jobs.
The tax break is targeted towards encouraging and sustaining business investment in the face of a global recession
You can read Mr Swan’s entire speech from the second reading of the bill at the ParlInfo site.