Hervey Bay Chamber of Commerce president Sandra Holebrook.
Hervey Bay Chamber of Commerce president Sandra Holebrook.

Business boss reacts to “behemoth stimulus budget”

NEW job incentives, investment allowances and more money for training and education programs.

One Hervey Bay business leader says the "behemoth stimulus budget" is what the country needs and it's what local businesses do with what is on offer that will count.

"It is the right budget for the nation so being that … means it is on the right track for the Fraser Coast," Hervey Bay Chamber of Commerce President Sandra Holebrook said.

One inclusion she was unsure would be helpful for local businesses was investment allowances.

Businesses will be able to deduct the full cost of capital assets purchased after budget night and first used or installed by 30 June 2022.

"When they bring things out like investment allowances - that does not resonate with local businesses here because they don't spend like that," she said.

"Those business allowances always concern me because they are not always applicable to here like payroll tax incentives, most people here don't pay payroll tax so it just becomes this statement that doesn't have any effect.

"Being able to write off assets is great but you still need to have the cash flow to buy it, you have to be big enough to have the benefit to use … and you have to have enough profit for it to be useful."

She said although some Fraser Coast Businesses would be able to make use of the offer most were just too small for it to be helpful.

"When they give those out to me I think it is much more a Brisbane, Sydney, Melbourne incentive, not so much a regional incentive," she said.

As the government phases out Jobkeeper and introduces the Jobmaker payments Ms Holebrook said she believed local business owners were more equipped to keep up with changes compared to before the pandemic.

"Over Covid the Fraser Coast got really good in the end of having a solid communication network of where they could find out what new incentives were and who qualified," she said.

"I am hoping that means that there is new stronger means of communicating within the business community which will actually help us get this next lot of stuff out there quickly and easily.

"People now understand who they can go and speak to if they do not understand."

The chamber president also said the financial success of the region would require all levels of Government working together.



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