David Gillespie (Lyne, National Party) Share this | Hansard source

It is with great pleasure that I rise to speak on these two bills, Tax Laws Amendment (Small Business Measures No. 1) Bill 2015 and Tax Laws Amendment (Small Business Measures No. 2) Bill 2015. In fact, the 10,000 small businesses in my electorate of Lyne will probably frame these bills, they are so useful to their businesses.

What does 'small business' mean? A small business means you are putting your family's wealth and income on the line and taking responsibility for your life. You are also often putting a mortgage on your house to fund your small business. If anyone in Australia has ever been 'having a go' in difficult times, it is people in small business. It is the employees who get paid first. It is their super. The boss is the last one to get paid in a small business and, until you are very successful, that is the lot you lead. But you are taking control of your life, you are backing your own judgement, you know your product, you know your market and away you go.

I am so proud to be part of a coalition government that is giving small businesses—finally—some concrete, tangible help that will improve their bottom lines. For incorporated businesses a 1½ per cent tax cut in the company tax rate is delivery on a promise we made in the 2013 campaign. If your aggregated turnover is less than $2 million, it will happen straight away—in fact, retrospectively, once this gets up to the Senate and through the Senate. It would be a very brave senator in the other house to knock back this legislation. Even the opposition is trying to claim credit for it, it is that good. So bring it on, I say. There is also a five per cent tax benefit—

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