Gabriel Ng (Menzies, Australian Labor Party) | Hansard source

There are over 22,000 small businesses in Menzies. They are the tradie in Doncaster who built his business from the back of a ute, the family running the restaurant in Box Hill that has fed the community for decades, the accountant in Templestowe who has set up her own practice and the pharmacist in Donvale who provides health care to the community. They take risks. They back themselves. They employ our neighbours, and they anchor our local communities.

On budget night, the Treasurer said that we would consult with small businesses and startups, and that's exactly what we've done. I reached out to my community and hosted a small business roundtable, and I heard from business owners from right across my community. The message was the same: 'Back us in, cut our costs, support us to keep serving our customers and the community.' This tax reform package delivers exactly that. We are extending the 50 per cent active asset CGT reduction to businesses with a turnover of up to $10 million. We are making the $20,000 instant asset write-off permanent, delivering $890 million in cash-flow support and saving small businesses 366,000 hours in record keeping. We are delivering a permanent two-year loss carry back so businesses can return to profitability faster.

Those opposite had every chance to deliver reforms like these, and they chose not to. For the businesses in Box Hill, Doncaster, Templestowe and Donvale, this is a government that has their backs.

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