Julie Owens (Parramatta, Australian Labor Party, Shadow Parliamentary Secretary for Small Business) Share this | Hansard source

Of course I know about the Magic Mile, everyone knows about the Magic Mile. I would love to have a Magic Mile. I've got a magic half-mile in Parramatta.

When we introduced the instant write-off during the global financial crisis, the affect that it had on that strip of motor vehicle sellers was extraordinary. The comments that they made about it and the effect that it had was amazing. In fact, when we introduced both of these write-offs in 2012-13, the businesses that sell to businesses—the businesses that sell carpet, the cabinet-makers who make shelving and counters, people who sell refrigeration, people who sell computers, people who sell tools and people who sell motor vehicles—used it as a way to promote their businesses to other businesses. It became quite a focus within the small business sector.

If the government thinks that they made it clear before the election that they were going to remove these tax concessions, they are wrong. The slogan was 'axe the tax', not 'axe the tax concessions'. They left off the last word. The commitment to axe the tax concessions was very silent. These are bad changes and it is a bad bill.

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