Nick Sherry (Tasmania, Australian Labor Party, Minister Assisting the Minister for Tourism) Share this | Hansard source

As I have mentioned, the government is effectively providing a tax cut to small business by increasing the instant write-off of goods purchased from $1,000 to $6,500. This means an increase of $1,500 in cash flow to over two million small businesses as a reward for those businesses as they invest. This is one of the measures to be funded by the $11 billion in revenue from the mining tax, which the Liberal Party is now going to give back to the mining sector. It is going to give that $11 billion-plus back to the mining sector. At the same time, the Liberal Party has decided it is going to have to increase taxes for small business to pay for this handing back of $11 billion in mining tax. At the same time, the Liberal Party will not be able to proceed with the company tax cut for small business, because that is funded from the mining tax. (Time expired)