Budget 2024: Retailers Say Budget Could Have Done More for Small Business

Published on May 17, 2024

Retailers and accountants flagged the federal budget’s lack of support for small businesses, especially amid a cost-of-living crisis. “In our pre-budget submission, we encouraged the government to expand the small business tax rate of 25 percent to include medium size businesses with revenue up to $100 million, from the current threshold of $50 million, and we’re disappointed this wasn’t adopted,” Paul Zahra, CEO of Australian Retailers Association (ARA), said. “Also in our pre-budget submission, we called for continued investment in vocational training options for the retail sector and we were disappointed that previous decisions to reduce investment in training for some front-line retail roles were not reversed tonight.”...

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