The Australian Retailers Association (ARA) has accepted the government’s pre-budget announcement, which will see around 500 import tariffs eliminated in an effort to improve costs for both businesses and consumers.
CEO of ARA, Paul Zahra said each bit helps in reducing the cost of retailers doing business.
“We are pleased to see some initiatives aimed at business in the Treasurer’s pre-budget announcement. The ARA has been a strong advocate for reduced import levies and reduced red tape for business.”
“Whilst this tariff reduction will provide only modest cost relief for retailers, the simplified system will eventually have a flow on benefit to business productivity – a critical issue this year whilst retailers aim to get back on their feet.”
“We look forward to the full details being revealed in May. With interest rate pressures having a lag effect, we know that households and retailers are feeling the biggest spending crunch right now. The cost of doing business remains at an all-time high for retailers – from energy, leasing and wages costs to continued supply chain pressures.”
“We are keen to see much broader business measures from the government in this year’s Budget which bring significant and immediate relief.”
The ARA promises to provide direct relief to households in need due to cost of living pressures, as well as the following in the pre-budget submission:
- Improved supply chain resilience, which includes the appointment of a National Supply Chain Commissioner.
- Increased government investment in recycling infrastructure.
- Payroll tax taskforce.
- Small business measures, which include extending small business energy rebate, and bonus tax incentives.
- Increasing threshold for the small business tax rate.
- Workforce solutions, which include the Work Bonus, provided to aged pensioners, and extending the Skills Checkpoint program to mature-aged workers.
