The Minister for Tourism, Martin Ferguson AM MP, says the Government's $42 billion Nation Building and Jobs Plan will provide a major boost to Australian tourism operators and support the jobs of thousands of Australians who work in this sector.
The Australian Government's $2.7 billion temporary business tax break will help Australian businesses boost business investment, bolster economic activity, support Australian jobs, and deliver significant benefit to the tourism industry.
Australian tourism operators are predominantly small businesspeople who can now claim an additional 30 per cent tax deduction for eligible assets costing $1,000 or more that they acquire from 13 December 2008 to 30 June 2009, and install by 30 June, 2010.
Minister Ferguson said: "The Government has today again taken action to support Australia's tourism industry.
"We have done so because the Government recognises the importance of tourism to Australia's economy and the fact that this important industry employs almost half a million Australians.
"Today's announced tax breaks mean a tourism small business operator who buys and installs a $2,000 computer this Financial Year, can claim an additional $600 deduction in his or her 2008-09 tax return.
"Small businesses live and die on their cash flow and this significant change will see more money in the pockets of Australia's small tourism businesses.
The Australian Government's $42 billion Nation Building and Jobs Plan follows the Rudd Government's pre-Christmas $10.4 billion economic security package which importantly placed discretionary dollars directly into the hands of many Australians.
Minister Ferguson: "Tourism is dependent on discretionary income and anecdotal evidence suggests tourism operators are benefitting from the Government's pre-Christmas stimulus package.
"The Government has today also announced further cash payments of $950 to eligible families and I hope this will also benefit the tourism and hospitality sector.
"The Government will also deliver tax cuts on 1 July 2009 which will once more increase discretionary dollars in the pockets of Australian consumers."