Wayne Swan (Lilley, Australian Labor Party, Treasurer) Share this | Hansard source

It is not the message I am giving the House today. There are tens of thousands of small businesses in the seat of Lyne which will receive a very substantial tax cut, a big boost, a $6,500 instant asset write-off, a huge boost to their cash flow, and that is all coming when the Senate votes on that legislation in the next couple of months. So there is already very substantial tax reform.

We have already put in place very substantial reform to income tax rates—three lots of tax cuts—but I do agree that there is an agenda for the future. We are happy to work with the parliament and the Independent members of this parliament to progress those reforms. We are receiving reports from the business tax working group, and the government will be considering all of these matters in the budget context. So there is substantial tax reform for the electors of Lyne, substantial tax reform right across this country, particularly for small business, and a substantial boost to the superannuation savings of Australian workers. That is a pretty good record.

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