Aussie farmers back Government’s company tax p​lan

THE National Farmers’ Federation has called on the Parliament to pass the Government’s Enterprise Tax Plan in full.

Assistant Minister to the Deputy Prime Minister, Luke Hartsuyker, has welcomed the strong support of Australia’s farmers for the Government’s Enterprise Tax Plan.

Over the weekend, the ​National Farmers’ Federation issued a public warning that valuable new Asian export markets are in jeopardy if the Parliament does not pass the Enterprise Tax Plan in full.

“Australia’s farmers and agribusinesses are very efficient, producing the finest food and fibre in the world. But they are competing with one hand tied behind their backs because of Australia’s uncompetitive business tax rates,” Mr Hartsuyker said.

“Australia is a net exporter of food and fibre, with about two-thirds of total agricultural production exported. These exports make Australia wealthier, providing jobs and supporting regional communities.

“Australian agriculture has significant potential to supply the rapidly growing Asian markets on our doorstep, but the necessary increases in production and processing capability will require significant investment along the supply chain.

“With intense global competition for investment in agribusiness, it is vital that Australia moves toward creating a more competitive atmosphere for business.

“The Coalition Government is determined to deliver more competitive tax rates along the entire supply chain through our Enterprise Tax Plan. Labor’s stated intention of limiting company tax relief to small business will create roadblocks for investment at vital points in the integrated supply chain.

“Australia’s farmers have made it clear that the Government’s Enterprise Tax Plan is vital for our national economic development. Labor now has a choice – support Australia’s farmers by backing the Government’s Enterprise Tax Plan, or prove once again that Labor has no idea about Australian agriculture or regional communities.”

www.minister.agriculture.gov.au

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