404 500 arrow-leftarrow-rightattachbutton-agriculturebutton-businessbutton-interestcalendarcaretclockcommentscrossdew-point external-linkfacebook-footerfacebookfollow hearthumidity linkedin-footerlinkedinmenupagination-leftpagination-right pin-outlinepinrainfall replysearchsharesoil ticktwitter-footertwitterupload weather-clearweather-cloudyweather-drizzleweather-fogweather-hailweather-overcastweather-partly-cloudyweather-rainweather-snowweather-thunderstormweather-windywind

Failure to pass Enterpise Tax Plan puts Australian farmers at risk

Valuable new Asian export markets are in jeopardy if the Parliament does not pass the Government’s enterprise Tax Plan in full.

This was the message from National Farmers Federation chief executive Tony Mahar and Business Council chief executive Jennifer Westacott.

“With business tax rates falling around the world, Australia must reduce its uncompetitive 30 per cent tax rate for all companies to encourage the new investment that is desperately needed to scale-up our agribusiness sector over the coming decades.

“This is a critical time. Australian agribusiness has huge potential to supply fast growing Asian markets but fulfilling this potential will require large new investment at all stages along the supply chain, from family farms to large processors and exporters.

“The agribusiness sector will need an estimated $1 trillion of new investment by 2050, according to ANZ, yet business investment in Australia is falling at rates not seen since the 1990s recession.

Limiting tax cuts to small business only would effectively penalise investments in processing of agricultural goods, severely limiting Australia’s potential to add value to its agricultural exports and unlock export markets for Australia’s premium agricultural goods.
NFF Chief Executive Officer, Tony Mahar and BCA Chief Executive, Jennifer Westacott

“Limiting tax cuts to small business only would effectively penalise investments in processing of agricultural goods, severely limiting Australia’s potential to add value to its agricultural exports and unlock export markets for Australia’s premium agricultural goods.

“The story is the same for other sectors – small, medium and big business form integrated supply chains and putting up roadblocks at any one point has negative repercussions along the chain.

“The future prosperity of Australian farms relies on being able to partner with larger companies that can transform their raw produce into high-quality, manufactured goods that can compete with cheaper, lower quality products from elsewhere.

“There are tremendous opportunities for Australian agriculture in Asia but, if we fall asleep at the wheel, these opportunities will be snatched up by our overseas competitors,” Mr Mahar and Ms Westacott said.

  • Tags

0 Responses

Heart disease and the great divide

Blog

Heart disease and the great divide

When it comes to heart health, where you live matters as much as how you live, according to new rese...

24 October 2017 - AustralianFarmers

  • 0
  • 0
  • 0
Archibull Prize encourages study of agriculture

News

Archibull Prize encourages study of agriculture

20 October 2017 - AustraliamFarmers

  • 1
  • 0
  • 1
Agriculture driving Tasmania

Blog

Agriculture driving Tasmania

This week, the President and CEO of the National Farmers’ Federation have been in The Apple Isle – t...

20 October 2017 - Tony Mahar, NFF CEO

  • 0
  • 0
  • 1
A National Energy Guarantee is just one piece of a broader emissions puzzle

Blog

A National Energy Guarantee is just one piece of a broader emissions puzzle

Following Tuesday’s announcement of the National Energy Guarantee, we may have a way out of the ener...

20 October 2017 - Jack Knowles, NFF

  • 0
  • 0
  • 2

Forum

Interview with David Westbrook

05 October 2017 - Unknown

  • 0
  • 0