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Small business voices concerns over Labor's GST grab.



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THE DEPUTY PRIME MINISTER AND MINISTER FOR TRADE

 

MEDIA RELEASE

 

SMALL BUSINESS VOICES CONCERNS OVER LABOR’S GST GRAB

 

Small business concerns over Labor’s proposed retrospective application of Capital Gain Tax to assets acquired before 1985 were made c lear this morning during a visit by the Deputy Prime Minister, Tim Fischer, to Melbourne exporter Kevron Plastics.

 

Kevron Plastics is a successful multi-million dollar small business, run by Kevin and Ron Chambers, exporting plastic key rings from Melbourne to Iceland and many other places in between.

 

Mr Kevin Chambers said this morning:

 

“Three generations of our family depend on selling 15c key rings.

 

“We don’t want to be a burden on the social security system when we retire, but this plant, this factory and our plans for the business would be dramatically affected if Labor gets in and implements the Capital Gains Tax on pre-September 1985 assets.

 

“We do not think it is fair. We don’t want to be a burden, we just want to go away and retire and not have to worry.

 

“The margins in this business are not brilliant, so it is hard to provide for your retirement”.

 

21 September 1998

 

Email: deputy.prime.minister@dfat.gov.au

 

 

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