Ed Husic (Chifley, Australian Labor Party) Share this | Hansard source

At any rate, I certainly accept what has been said. I am proud of the things we have done for small business, and this reform, Mr Deputy Speaker, is another element of that reform process. We have a multiplicity of registration systems within this country and we are trying to ensure that there is a uniform system in place. I am particularly pleased about the involvement of ASIC and having registration and oversight through ASIC. That is an important measure that gives a great degree of confidence to small business.

I referred earlier to independent contractors and small businesses that set up, particularly in this day and age where there is a lot more freedom for people to do that. Importantly, as a result of what we are doing in another reform, the National Broadband Network, people will be able to trade in other parts of the country and the world more easily, but they will not want to wade through the red tape of business registration. We have made that uniform.

I certainly commend the states that have worked with the federal government. As the parliamentary secretary indicated earlier, there needs to be a referral process. These powers do not exist themselves in the hands of the federal government so it did require cooperative federalism to ensure that, as the parliamentary secretary said in his second reading speech, by May next year this system will take effect.

The amendments before the House will ensure that, as a result of the broader legislation which gives effect to these reforms and which was passed in October this year, when the system does kick in things will be harmonised and start at the same time. It is a common-sense proposition that, if you trade in this country, particularly with the ability to trade across borders and being able to reach out and collaborate with people in different parts of the country, you should not have to wade through paperwork in order to set up your business elsewhere. I am sure that small businesses will welcome the fact that they will be able to set up small business concerns and know that in one part of the country the process will be the same as exists in the other parts.

Tasmania and New South Wales have already signed up and other states will be ready to sign up by March. By May this system will kick in and will provide tangible benefits to small business. It is a demonstration of how cooperative federalism can deliver in a significant way for the economy. I commend this very sensible set of amendments and the overall reform. If you will excuse my enthusiasm, Mr Deputy Speaker, I think a lot of good things are being done for small business in this country by this government. This is another step along that path and I certainly commend the legislation to the House.

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