House debates Bills

Treasury Laws Amendment (Tax Reform No. 3) Bill 2026; Consideration in Detail

Thursday, 29 October 2026 House of Representatives

Tim Wilson

Tim Wilson Goldstein, Liberal Party, Shadow Treasurer

9:48 am

The idea that this Albanese government would continue to increase costs to small business at a time when they are desperate and begging for relief—the only answer from this Albanese government is to turn around and impose higher taxes on them. We believe that there should be a splitting of this bill because we believe that measures that are necessary to protect small business should be excluded. Instead, the government is only piling on the pressure and breaking small business. We only heard yesterday of new inflation data which outlined the higher pressures and higher costs that are going to be imposed on small businesses. The solution from this government is to turn around and say: 'It's fine. We're going to impose higher taxes, higher costs, $50,000 per Australian small business, to navigate and steer through the higher costs being imposed by this legislation.' We're not just hearing that; we're hearing about a $13.3 billion deadweight cost to the entirety of the Australian economy. What is it that this government doesn't get? What don't they understand about the laws they're introducing? Why don't they understand they're breaking families, breaking small businesses and breaking people's hopes, dreams and livelihoods? Hundreds of thousands of small businesses across this country are being targeted and attacked, assaulted by the Albanese government, because it cannot control its spending addiction. As a consequence, they are being sent to the cleaners.

We know how bad things are now. It's only going to get worse, because every time inflation goes up, interest rates go up. We know next Tuesday, while many people are hoping for a win from the race that stops the nation, what they're going to be at risk of is further punishment by the Albanese government and its inflation addiction. We always come into this parliament and talk about the problems of addiction. We always come in and say, 'We've got to support people through their pain and make sure they're not exposed.' When is this Treasurer going to have his spending addiction brought under control? When are we going to see legislation from the other side of the chamber saying that we've got to control this Treasurer and his spending addiction because he is sending Australian families backwards?

If it was a gambling company, they'd be straight on their feet and acting. Even worse than that, they'd turn around and make sure that there was intervention and action every step of the way. But we don't see similar action when it's their own, because, at the end of the day, in their lust for power, the Labor Party will focus on one thing, which is: how can they feed themselves at the expense of the Australian people? They're turning around to the small businesses of the nation, who are already struggling to keep their doors open, already struggling to pay their costs, already struggling to pay their tax bills, struggling to pay the tens of thousands of dollars of surcharge fees, struggling to meet their basic needs so they can pay their staff before they even give a second to thinking about paying themselves. And what's the answer from this government? What's the answer from this Treasurer? It's to impose higher costs so the government can pay themselves first.

We do not believe in that vision or that future for this country—sorry! We do not believe the strength of Australia is built from a government that cannot control its spending addiction. We believe in a nation where we back families, communities and small businesses as the foundation of this nation's success. We are completely unapologetic about splitting this bill so that we can make sure we protect Australian families, small businesses and households. We have no apology for standing up against this Treasurer and his inflation addiction, because if we don't stand up, then no-one will.

We've seen too many times—we just saw in the chamber then—Teal MPs once again betraying their constituents, as they're so wont to do, by voting for a minimum tax on small business. You look at it and think, 'What is wrong with these MPs?' They do not understand the consequences. Neither do members of the Labor Party. I can assure members opposite, on the other side, that they might carry on with their hubris and, lemming-like, follow this Prime Minister and this Treasurer off the political cliff, but the small businesses of this nation will remember at the next election what you did. They will be able to say, 'We know what you did in the last parliamentary term.' They will look at you and say: 'You betrayed the Australian people. You betrayed Australian small businesses. You betrayed the families that depend on them. You betrayed the employees that depend on them.' And for what purpose? So that you can rapaciously satisfy the needs and the spending addiction of the Prime Minister and the Treasurer.

The game is up. We're going to fight and we're going to fight all the way to the next election.

Comments

No comments