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Turnbull avoids tax relief question in meeting with SMEs

TAX RELIEF red Rubber Stamp over a white background.Prime Minister Malcolm Turnbull has resisted calls from Sydney small businesses to promise further tax relief ahead of the 3 May budget.

Turnbull on Friday told a room full of Sydney small business owners they were at the heart of each of his government’s policies, but stopped short of revealing if they would be offered any new incentives or cuts as a form of tax relief.

At a small business roadshow in his electorate of Wentworth, Turnbull was asked whether Australia taxed businesses too heavily, compared to international markets.

“We have, as you know, reduced the tax on small business in the last budget. Why don’t I – as Tony Jones would say on Q&A – I’ll take that as a comment, but I’ll certainly raise it with my friend the treasurer,” he said at the North Bondi Surf Club.

“I can assure you that every element of our budget is focused, as you’ll see, on supporting enterprise, innovation and jobs.”

Turnbull insisted those gathered were among the key drivers of Australia’s economic growth.

“Your energy, your optimism, your entrepreneurship, is what sets us right,” Turnbull said.

“You represent the most agile, the most innovative businesses in Australia – there’s no question about that – and that’s why we back you right up to the hilt.”

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