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Federal Labor Member for Fremantle, Melissa Parke has revealed that 48,100 local workers and 18,200 small businesses will soon start receiving a fairer share from the mining boom as a result of the Federal Labor Government's Mineral Resource Rent Tax (MRRT).
"I am very much aware that the booming resource sector doesn't benefit everyone, and indeed produces higher costs for many households. That's why the Gillard Government is working to boost the superannuation nest eggs of working people in the Fremantle electorate," Ms Parke said.
"Through this policy reform, employer superannuation contributions will be boosted from 9% to 12% for something like 48,100 workers in the Fremantle electorate. "
"That means a 30 year old worker on average earnings could retire with around $100,000 in extra savings.
"Our plan to increase superannuation is yet another example of how the Gillard Government is ensuring that a strong economy is a platform for positive refrom and greater fairness," said Ms Parke.
Local small businesses also stand to benefit under the Federal Labor's plans to spread the benefits of the mining boom right across the community," said Ms Parke.
"There are 18,200 small businesses in the Fremantle electorate which help form the backbone of our local economy and our community."
"The Labor Government's tax cuts for every small business will mean they can operate on a stronger basis which helps diversify our economy and support jobs in a variety of sectors."
"The tax cut will mean small business owners would be able to instantly write off every asset they buy valued below $6,500 and the first $5,000 of any motor vehicle" said Ms Parke.
Ms Parke said the great news was that there would be no limit on the number of new assets for which businesses could claim the $6,500.
"The local baker, for example, could purchase four new ovens each costing less than $6,500 and instantly write each off their tax."
"We all know how important the mining industry is to our national economy, but every hardworking Australian in the Fremantle electorate owns our resources and deserves to share in the benefits from the development of the minerals that are our common wealth," said Ms Parke. |