Joel Fitzgibbon (Hunter, Australian Labor Party, Shadow Assistant Treasurer and Revenue) Share this | Hansard source

Thank you, Mr Deputy Speaker. I thank the parliamentary secretary for his insightful answer. Can I move on to what is known as the entrepreneur’s tax offset. This is, of course, a tax rebate given to certain small businesses, particularly those with revenues of less than $50,000 a year, phasing right out I think at $75,000 a year. I could stand corrected, but I believe the cost of that initiative is somewhat in excess of what was originally proposed when it first appeared in the 2005-06 budget. I ask the parliamentary secretary whether he can provide information about where exactly that money is going, maybe giving us a breakdown of the various businesses receiving the benefit of that tax offset and whether he can clarify why the cost of that offset has so significantly blown out.

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