Karen McNamara (Dobell, Liberal Party) Share this | Hansard source

I rise today to support small business. From this side of the parliament you will not hear any negative rhetoric, bullying, hypocrisy, personal attacks and whingeing that we have just heard from Australia's biggest whinger. And there will be no cheap stunts. In fact, it is quite ironical that we just heard from Australia's biggest whinger when we are about to introduce the biggest small business package in our nation's history and the lowest small business company tax rate in almost half a century. This government understands the important contribution small business makes to the Australian economy. The Tax Laws Amendment (Small Business Measures No. 1) Bill 2015 and Tax Laws Amendment (Small Business Measures No. 2) Bill 2015 lower the company tax rate by 1.5 percentage points, to 28.5 per cent for incorporated small businesses with a turnover of less than $2 million. This is the lowest small business company tax rate since 1967.

We believe in Australia's small businesses and acknowledge that government can do more to support and encourage greater growth. This government is building a stronger and more prosperous economy so that every Australian can get ahead. At the foundation of a strong economy is the need to support small businesses. We need to provide more support for entrepreneurial Australians who are looking to create Australia's new innovative jobs. The government is supporting eager young people with new ideas and mums and dads who are prepared to wager the family home to start a new business. These are the building blocks of our stronger economy and future prosperity.

Small businesses will pay less tax for income years that commence on or after 1 July 2015. This fulfils our 2013 election commitment. Unlike members opposite, who had a budget night epiphany about the importance of small business, this tax break has been a long-held commitment of the government. Sadly, rather than congratulating the government on our achievements, members opposite sought to politicise the announcement and also have a cheap stunt.

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