Bert Van Manen (Forde, Liberal Party) Share this | Hansard source

It's always a pleasure to rise in this House and speak about the terrific things that a coalition government, once again, is doing for small business. And it's interesting to listen to the contribution from the member opposite. As much as I like her, and we serve on a number of committees together, she interestingly failed to mention a range of policies that those opposite are proposing that are going to directly impact small business. For example, she forgot to mention the capital gains tax increases or the changes to capital gains tax arrangements. She forgot to mention the changes to dividend imputation rules. For many small-business owners who reinvest their wealth over their lifetime running their small business, when they get to retirement and they generate a tax-free income stream, they'll never be able to use the tax credits they have accumulated. I bet the member hadn't thought of that one. And, in addition to that, the tax on trusts will affect many small businesses that are run through trusts and other unincorporated structures.

The member opposite failed to mention a few of those pertinent facts that are directly going to impact small-business people if those opposite ever have the pleasure of sitting on the government benches again. But on this side of the House, we can stand here safe in the knowledge that the things that we are doing for small to medium business, for the long term, are going to assist them to build and grow their businesses and give them incentives to do so.

We know that many small-business owners, as a number of speakers have touched on, take risks every single day just to open their doors. If their business is supported with finance, if their house is mortgaged for the business, all their finances for their whole family generally come from that business. But not only is it their personal finances that are supported by that business, it's the finances of their employees. And they recognise that as the owners of that business, it is critically important that they run the business well and continue to grow the business so not only can they build wealth for their families but, equally, they can continue to maintain and grow the number of employees they have and, by extension, then help those employees build the wealth of their families. That is what this country is built on.

Small and medium businesses in this country employ the majority of the Australian workforce. In my electorate of Forde, some 15,500 small and medium businesses will directly once again benefit from this tax cut. And we've seen already the benefits they have received not only from the first tax cut but also from things such as the instant asset write-off. I was at Beaurepaires in Beenleigh last week with the Minister for Small and Family Business, Skills and Vocational Education. Ronnie, who runs it with his wife, Karen, told me about how they bought a new air compressor to replace their old compressor and they used the instant asset write-off for that. This new air compressor fits into a third of the space of the old one and it has assisted in reducing their electricity bills by some 25 per cent. That is a clear example of the benefit of the things we are doing for small businesses that will allow them to grow and prosper.

In addition, from 2016 we extended unfair contract terms to small businesses. And, as I've already touched on, we as a government are not changing the dividend imputation rules, which protect the value of the reinvested capital of many small businesses across the country, when they get to retirement. In this debate, the changes that those opposite propose to dividend imputation have not been well ventilated. Many small business people probably don't realise that at this point.

Looking at some of the great small businesses around the electorate of Forde, there is Poppy's Chocolates, which makes a range of wonderful tasty chocolates, enjoyed by our local community and a wide range of clients right around South East Queensland. I have already touched on Beaurepaires at Beenleigh. True Blue Glass, one of our great local businesses that provide services over the greater Brisbane area, is benefitting from the instant asset write-off and also from our over $1 billion investment in upgrades to the M1. It will mean their employees, their trades people who go out on the road to fix the glass on shop fronts and homes, will not be stuck in traffic for as long each day. Look at great businesses like Noonan Race Engineering, which builds and designs engines, predominantly for the drag-racing industry, not only here in Australia but also in the United States. Look at Better Batteries, which is developing a range of batteries to provide storage capacity as we move towards more renewable energy in our energy sector, or Lumineye, which makes and exports nail polish. They have the capacity to make small runs of nail polish for high-class fashion houses around the world. These small runs can't be done by the big companies in China. They can turn those new colours around in some six weeks, so they're exporting around the world. Concept Safety, which saw a gap in the market in the mapping of safety in buildings, has just received a $650,000 grant from the federal government to develop a completely online database map of an entire building with all its safety exits, where its fire extinguishers are and so on. There are many other great businesses like those we all have in our electorates, such as Luv a Coffee, where I regularly go for a coffee, and Mitre 10 Loganholme, which is one of our great local hardware stores. There are other great businesses, like Stellarossa in Park Ridge, and there are our pharmacies, which do a terrific job looking after and supporting those in our community who are struggling with health issues.

All of us in this place can list a great number of businesses that benefit from the fact that we're taking the opportunity to reduce the tax they're paying. Not only are we doing that but, in regard to pharmacies, because we have the budget in order and we have a strong economy, we've taken the opportunity to increase the number of medicines that are on the Pharmaceutical Benefits Scheme. That benefits a wide range of the constituents in our community who have difficult health conditions.

All of this ultimately benefits Australian people. Over the past five or six years we've seen over a million jobs created in our community. Governments don't create jobs. Businesses like those that I've mentioned create jobs. That is what is so valuable and so important about the work that we're doing in this place, because we're creating the incentive and the opportunity for the small to medium businesses across Australia to take the risks and take the opportunity to grow and to employ more Australians. We know that the greatest thing for Australians is to be able to work in satisfying, fulfilling jobs, because that gives them the opportunity to build wealth for themselves and their families. It gives them personal satisfaction, personal wealth and the knowledge that they're contributing.

We also know that, if people are working, they are more likely to have their kids playing in sporting groups and they are more likely to be involved in the community. So there is an enormous number of add-on benefits to the fact that people are working and contributing. It also means that we don't see as many people on welfare, and that is an enormous advantage to our community. When people are working, they're involved in the workforce and they're building skills, developing capability and realising their potential. That's what we want to see. We want to see people build their potential and contribute to our society in a positive way. That is, ultimately, what all these measures that I've spoken about do. They create the opportunity for business owners—but importantly they create the opportunity for Australians—to build their capacity, live their dreams and contribute to our society in the best way they can. It is through that that we build a stronger, more cohesive community for everybody in this country, and that's why I commend this bill to the House.

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