Penny Wong (SA, Australian Labor Party, Minister for Finance and Deregulation) Share this | Hansard source

The government does understand the circumstances of many of Australia's small businesses, which is why we wanted to provide a tax cut to them, which was opposed by those opposite. That is why we put in place an instant asset write-off and an increased tax break for small business, which were opposed by those opposite. If the senator does not know, he has been committed by his shadow finance minister to revoke that, to impose a tax hike on small business. The government understands the needs of small business and big business, which is why we have a loss carry-back policy funded in the last budget, the vast majority of which will be to the benefit of small businesses which, by a great margin, will be the majority recipients, in Treasury's assessment, of that tax assistance and that tax break.

All of these things were opposed by those opposite, so if the senator wants to come in here and lecture us about small business I suggest he goes to them and explain why he thinks they should pay more tax.