Ann Sudmalis (Gilmore, Liberal Party) Share this | Link to this | Hansard source

My question is to the Treasurer. Will the Treasurer explain to the House how the budget is driving investment and supporting wages for hardworking Australians, including family businesses like Aquatique, which has three stores and employs young people? Will the Treasurer outline any obstructions to this approach?

Scott Morrison (Cook, Liberal Party, Treasurer) Share this | Link to this | Hansard source

I thank the member for Gilmore for her question. She rightly talks about Aquatique in her electorate, which is a business that has a turnover of between $2 million and $10 million. There are some 100,000 businesses like this around the country, and they employ 2.2 million Australians. The government's Enterprise Tax plan starts with those businesses by changing the definition of a small business from a business with a turnover of $2 million to a business with a turnover of $10 million. So, not only do they get a tax cut this year—right now, this fiscal year—but they also get access to the instant asset write-off, which is an initiative of this government; they get access to pool depreciation provisions; and they get the tax monkey off their back, as small and medium-size businesses.

The member for Gilmore came into this place this week and voted for that tax cut for those businesses. But the member for Hindmarsh came into this chamber and voted against the tax cut for businesses like Precise engineering and manufacturing in Adelaide. That is a company that has a turnover of $2.9 million and just 20 staff. That is a company that went through the hardest part of the transition in the car manufacturing industry, and it is surviving and is now growing. But the member for Hindmarsh came in here and said: 'No way. You should be paying higher taxes and you shouldn't be investing in your business and supporting better wages for your employees and more investment and more jobs.'

The member for Bass also came in here. He has in his electorate Australian Honey Products. That is a company that has a turnover of $2½ million and 20 staff, and 60 per cent of their product is exported to Asian markets. That is a company that is a true Tasmanian success story. But the member for Bass thinks small businesses like Australian Honey Products should be paying higher taxes and should not have the opportunity to invest more, to grow their business, to take advantage of the trade export deals that this government is delivering and the Labor Party opposed, particularly when it comes to China. Our Enterprise Tax Plan is about ensuring that small and medium-size businesses in particular are able to get ahead. And we know who agreed with us on that. The Leader of the Opposition said that you cannot have someone in a job unless business is making a profit. He said, 'I don't have an us-and-them view about business.' That is what he said. He said that if a business is not making a profit then people cannot be assured of a job.

Well, the difference between this side of the House and that side of the House is that this side of the House comes into the parliament and votes for what they believe in. We come in here because we know that if you want to drive jobs, if you want to lift incomes, if you want to support wages then you have to back the jobs and growth plan of the coalition government that was outlined in this budget past and will be in the next one.— (Time expired)