Small businesses in Dunkley will benefit from improvementsthe Coalition Government is making to employee share schemes which are designedto help attract, retain and motivate employees.
The Government’s proposed changes include doublingthe value limit of eligible financial products that can be offered to $10,000per employee, per year.
Mr Crewther said that employee share schemes allow employees toinvest in the business for which they work, allowing them to share in the growthand success of the business.
“In Dunkley, there are more than 11,928 small businesses which will benefit from these proposed changes,” MrCrewther said.
“The current regulatory framework is quite complexand ultimately discourages businesses – particularly, small businesses – from offering employee share schemes.
“These changes will reduce the time and cost burdenfor businesses, improving access for employers and employees alike.”
The initiative is particularly important for start-upsin early stages of growth and builds on changes already implemented by theCoalition Government to make employee share schemes more accessible to smallbusiness.
“These changes are part of our plan to back smallbusiness and strengthen our economy,” Mr Crewther said.
“The Coalition Government is lowering taxes forsmall businesses, we have cut nearly $6 billion worth of small business redtape for them and we have extended the $20,000 instant asset write-off.”