Harvey Norman chairman Gerry Harvey said recently the federal government’s $5.5 billion small business budget package was so good for retailers they could have written it themselves.
"I wrote the budget and (Treasurer) Joe Hockey read it," Mr Harvey quipped.
The new package encourages small businesses to go on a two-year spending binge in a bid to stimulate industry.
Gerry Harvey thinks it's the best thing since pop-up toasters – and we agree!
The measures contained for SMEs in the budget are great news for the manufacturing sector.
The stimulatory budget, combined with record low interest rates and falling Australian dollar have raised industry hopes.
This will provide an enormous boost to industry confidence.
So now is the perfect time to sell, sell, sell.
Industry Update has many thousands of readers in the under $2 million dollar bracket so this is a great opportunity to reach them.
Under the government's plan, small businesses can claim an immediate tax deduction for every item they purchase up to $20,000, such as materials handling equipment, machinery, electronics and office equipment.
This 100 per cent write-off will be available to businesses with an ABN, earning less than $2 million a year.
Though it will last for two years, companies will receive even more benefit this financial year because the tax rate is 30 percent. After July 1, 2016 the rate drops to 28.5 percent.
It’s a small difference but I’m sure there are plenty of people that will still want to save that extra 1.5 percent and most importantly they will want to get a 100 percent tax deduction in this year.
You are most likely aware that our November edition was the biggest November edition ever published with more revenue, ads, editorial and pages than ever before – a genuine record breaker!
I am quite sure that IU is the only publication still breaking records and we can only achieve that because industry has decided that we are the best choice to advertise in.