Bruce Billson (Dunkley, Liberal Party, Minister for Small Business) Share this | Hansard source

What an exciting day for small business men and women in our country—the best budget small business has seen from a Commonwealth government has been not only announced, not only explained, not only properly analysed but we have now seen key elements of it pass the Senate.

To quote Gordon from Thunderbirds: 'All systems are go!' Get amongst it—go and invest up to your $20,000. But you do not have to be limited to just one. If you are in a situation where your business can be boosted by multiple investments of new assets and equipment up to $20,000, you can go again and again and again. There is no cap on this opportunity. There is no break on our encouragement for the enterprise and entrepreneurship that we are seeing.

The member for Swan has jubilant news to share with more than 15,800 small businesses in his electorate, but they are reciprocating. They recognise that we collaborate, we partner with small business. And just as we are engaging with small business men and women to see what we can do to help recover the 519,000 jobs lost in small business under Labor, small business people are doing their bit too. Part of that is liaising with local members.

It is great to hear the member's account of what he is hearing from his own electorate. We have got Barry, who runs Printezy in Victoria Park. Barry has just purchased a new printing machine to take advantage of the new $20,000 immediate deduction. But that is not the only thing that has passed through the Senate. The reduction in small business company tax to a rate not seen since 1967—what a subject to celebrate! What a statement; what an incentive for small business men and women. There is also an opportunity, as has been outlined by the Treasurer, to get behind the agricultural community with instant asset write-off opportunities for water infrastructure, for fencing and accelerated depreciation for food and fodder.

Unlike Labor, we have not forgotten about the 1.7 million small businesses that are not incorporated. Our package includes a discount of five per cent up to $1,000 to give those two out of three small businesses that are unincorporated the encouragement that they need. That is why the encouragement and support from ACCI comes as no surprise.

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