Wollongong small businesses and workers to benefit from Australia's mining boom

23 November 2011

The Federal Member for Cunningham, Sharon Bird, today welcomed the passage through the House of Representatives of the Commonwealth Government’s Minerals Resource Rent Tax (MRRT) despite opposition from the Liberal-National Party.

“Thousands of small business operators and workers in the Illawarra region will finally share the benefits of this unprecedented boom in Australia’s mineral and energy resources.

“The MRRT recognises that Australia’s minerals and energy resources belong to every Australian.

“In opposing the introduction of the MRRT, the Liberal-National Party simply confirm that they stand up for vested interests, not all Australians”, Ms Bird said.

She said that 15,100 small businesses in the Cunningham electorate would benefit from the $6500 immediate write-off of assets, and cut in the company tax rate to 29 percent.

“The boost in superannuation from 9 percent to 12 percent will help 45,500 workers in Cunningham enjoy a higher retirement income.

“Expanding superannuation concessions to income earners earning less than 37,000 per year will help increase the retirement income of another 22,900 low-income earners.

“This is real change and real reform for small businesses and workers in my electorate ensuring they share in a $430 billion pipeline of investment in the Australian mining industry”, Ms Bird said.