Anne Aly (Cowan, Australian Labor Party, Minister for International Development) Share this | Hansard source

I thank the member for Petrie for her question. Last month I had the pleasure of visiting a fattoush restaurant with the member for Petrie and speaking with the owner, Rod. I didn't get to try their fattoush, but I promised I'd be back to give it a go, even though I do believe that my version of fattoush is one of the best. We'll see!

I've also been meeting with small businesses right across the country. I'm hearing about their challenges, about their opportunities and about their aspirations. And, importantly, I've been hearing from them about their operating environments and how we can deliver the settings that they need to be able to flourish and grow. That's why this government is focused on cash flow and operating expenses through targeted measures to reduce red tape and make it easier for small businesses to do business.

It's why the budget includes $3.5 billion in supports for small business to support resilience, investment and growth—things like making the $20,000 instant asset write-off and the two-year loss carry-back permanent, introducing loss refundability for startups, taking measures to reduce compliance costs and removing nuisance tariffs. The Business Council of Australia said:

Making the instant asset write-off permanent and delivering loss carry back are useful steps for small- and medium-sized businesses and will help businesses invest, grow and create jobs.

On making the instant asset write-off permanent, Chartered Accountants Australia and New Zealand said:

… it cuts red tape … and lets businesses focus on running and growing their operations …

They also said that it 'supports growth and strengthens the economic foundations Australia needs in a challenging global environment'.

The Housing Industry Association, ACCI, COSBOA, the National Farmers' Federation, Master Electricians, the Finance Industry Association and the Motor Trades Association of Australia have all welcomed these budget measures for small business, recognising that this government focuses on improving cash flow and supporting confidence so that small businesses can get on with doing what they do best. That's what small businesses tell me every day. They want us to make it easier for them to run their business and to grow when they need to. The Albanese government is backing small business, and we'll continue to do that. We'll continue to do that because small business backs Australia.

See this speech in context