Federal Member for Hume Angus Taylor has welcomed news of Cowra small businesses spending up on the back of Federal Budget support.

Mr Taylor said business had acted quickly, particularly in reference to accelerated depreciation for items under $20,000.

Clothing retailer Carla Sparkes, owner/operator at Style for Women Cowra, said the instant asset write off was a great opportunity for all small businesses.

“I will be purchasing a new jewellery cabinet for my business. I have been thinking about upgrading the cabinet for ages and this is the perfect reason,” she said.

Cowra Motorcycles & Power Equipment owner Lyndsay Cain said sales for quad bikes had gone through the roof. “This has been a big surprise, sales are much stronger than we expected. Ag products are also selling well - the $20,000 threshold is a good amount,” he said.

Angus Taylor said local retailers had reported larger items had been selling particularly well. 

“This is just what we wanted small businesses to do. In the past few weeks the rush has been on to make the most of immediate depreciation in the new tax year.”

Mr Taylor said rural producers were also welcoming a range of incentives.

“Accelerated depreciation for fencing, fodder and water storage purchases is another massive help for farmers. Bev and Ian Donges near Cowra have bought a solar pump off the back of the incentives and, coupled with some recent good rain across the district, prospects are looking up for the local farm sector.

“These are all good stories, not only for Hume but for regional Australia. We know only too well small businesses hold the key to re-energising our economy and creating wealth and jobs for our local communities.”

Captions: Pic 1 Cowra clothing retailer Carla Sparkes says the instant asset write off is a great opportunity for all small business.  

Pic 2  Ian Donges pictured with the solar panels powering a new solar pump.