Michaelia Cash (WA, Liberal Party, Minister for Small and Family Business) Share this | Hansard source

When you actually get a tax cut, like we're giving, bringing them forward five years early, it means you as a business keep more of the money that you have generated. We want to see businesses being able to keep more of the money that they work hard to generate. For example, if you're a small business and you're turning over a profit of around half a million dollars a year, as a result of this government, the Liberal-National government, bringing forward its tax cuts you will have an additional $7½ thousand in 2021 to reinvest back into your business and your staff and to help manage cashflow. The following year, when the 25 per cent tax rate cuts in, these businesses with half a million dollars profit will have approximately $12½ thousand extra. We will back small and family business every step of the way. We want to ensure they have, and they keep, more of their money, which they work so hard to generate.