National Chairman of the Spatial Industries Business Association (SIBA), Glenn Cockerton, has said that last week’s Federal Budget will provide a number of opportunities for SIBA members.

“Our members are overwhelmingly small businesses so the instant $20K asset write off will be of particular benefit. Technology in our sector is changing and improving constantly,” said Mr Cockerton. “It is quite normal for our members to be still depreciating equipment long after its use by date.”

“So being able to instantly write off equipment worth up $20K per item is of enormous benefit. The reduction in company tax is also welcomed as a significant proportion of our membership will be able to access the reduction,” Mr Cockerton explained.

SIBA encouraged all governments to push ahead with major infrastructure projects receiving budget funding as the spatial industries are key players in the design and construction of infrastructure projects such as roads and rail.

Glenn Cockerton also welcomed the commitment of the Opposition to further lower taxation for small businesses as well as their focus on science, technology, engineering & mathematics (STEM).

“There is a shortage of spatial professionals across Australia as spatial information increasingly becomes ubiquitous in many non-traditional spatial sectors such as health and education. We must train many more people in the sciences including the spatial sciences and that requires a greater participation in STEM at school,” Glenn Cockerton concluded.