Young Territorians starting their own business are able to take advantage of new products made available by the Australian Taxation Office (ATO), Country Liberals Senator for the Northern Territory, Nigel Scullion, says.
“With more young Australians going into small business, particularly in industries such as construction, transport, information technology and telecommunications, the ATO has made the process even easier to help young people have a go,” Senator Scullion said.
“The Coalition Government admires those who take a risk and have a go in starting their own small business, and this is especially for young Territorians. They are bringing jobs and opportunities to communities throughout the Territory and the Government is here to back them.”
- checklists to help with setting up a business
- ideas for developing business networks, and
- advice about planning and setting goals.
Government agencies, including the ATO, Australian Securities and Investments Commission and the Department of Industry, Innovation and Science, recently partnered with young small business owners to form a fix-it squad. The squad explored how Government could help young Australians starting a new business and worked together to bring some helpful new products to life.
Federal Small Business Minister, Michael McCormack, said simplifying help for small business was his focus as the part of the Government’s plan to back small business.
“I have been there, starting out and hoping your risk and your dream pays off. That’s why I know the great thing about these products is that while they were developed with young Australians in mind, they’ll be useful for anyone starting a business,” Mr McCormack said.
“Estimates say these products will save the Australian small business community around 1.5 million hours a year, giving new business owners more time to grow their business or spend with their families – which are some of the best investments they can make.
“From cutting small business taxes to producing apps to make small business simpler, to the $20,000 instant asset write-off programme, the Government has runs on the board in backing small business.
“I encourage anyone planning to start a business to have a look at these great new products and start their small business with their best foot forward.”