The Australian Hotels Association (AHA) has commended the Government’s announcement that the small business entity annual turnover threshold will be increased from $2 million to $10 million from 1 July and that the corporate tax will decrease by 1%.
AHA National CEO Stephen Ferguson said, “The previous threshold of $2 million for immediate deductions was welcomed last year; however the lifting of the threshold to $10 million will enable far more hotels to invest and grow”.
“The 1% reduction in the corporate tax rate for small business will really help small to midsized hotels”.
“Hotels operate in the highly competitive hospitality industry and to meet increasing customer expectations, hotels must continually reinvest in and improve their premises.
“That investment will lead to growth which will help Australian hotels provide more work for the 250,000 Australians they already employ.”
For further information: Stephen Ferguson 02 6273 4007