Speaking following Budget 2013, local Fine Gael TD Noel Coonan has welcomed the SME 10 Point Tax Reform announced by Minister Michael Noonan. Deputy Coonan said this initiative will greatly benefit Tipperary businesses and farmers.
“Alongside this plan, a further measure that will help Tipperary businesses is the introduction of a rebate on diesel with effect from the 1st of July 2013,” continued Deputy Coonan.
“This 10 point plan is designed to create additional jobs in the business, tourism and farming sectors nationally. These measures will also extend to the tourism sector. SMEs are the lifeblood of our economy in Tipperary and they are playing a vital role in the recovery of our economy,” said Noel.
“This Plan includes measures such as reforming the 3 Year Corporation Tax Relief for Start Up Companies, increasing the cash receipts basis threshold for VAT from €1 million to €1.25 million and amending the Close Company Surcharge. These are just some of the ten points.
“An additional initiative that will support small businesses in all sectors of the economy is the introduction of a rebate on diesel with effect from the 1st of July 2013. Virtually all businesses in Ireland rely on cost effective transport for their inputs and their outputs and this is welcome news,” said Deputy Coonan.
“Tipperary farms are also small and medium sized enterprises. Minister Noonan has included measures in the 10 Point Tax Reform Plan, which will assist the farming sector including extending the general rate of stock relief of 25% for a further three years to 2015. We will also extend definition of registered farm partnership to include beef production partnerships for the purposes of the 50% rate of stock relief.
“The primary focus of this Budget is to support the creation of jobs for our people and to help the unemployed back to work,” concluded Deputy Coonan.