Katy Gallagher (ACT, Australian Labor Party, Minister for the Public Service) | Hansard source

I thank Senator Sterle for that question too. In relation to consultation and working with others, we were upfront in the budget that we were consulting on certain details of the reforms, including for small businesses and startup businesses with a low cost base. The government's additional amendments are all about providing more clarity, confidence and support for small business and more incentives for innovation.

Senator Sterle asked, 'Who benefits?' Well, all working Australians benefit, Senator Sterle. Income tax cuts for over 13 million workers, first home buyers—these reforms will help 75,000 homeowners get into the market. In relation to young people, Treasury's analysis found that over 90 per cent of Australians would have been better off by the age of 30 had these tax reforms been in place from the year 2000, before factoring in housing affordability. For small businesses, there are a range of concessions, including raising the threshold from $2 million to $10 million to ensure that all active small businesses can get— (Time expired)