Wayne Swan (Lilley, Australian Labor Party, Treasurer) Share this | Hansard source

I was asked about tax relief for small business, and the government is getting on with the job of making our businesses much more competitive. The $6,500 instant asset write-off will come in from 1 July and that will be there for up to 2.7 million small businesses. And guess what? Everyone on that side of the House voted against this measure for small business so they can grow and be more competitive. In the budget we had the loss carryback, and that is going to be of benefit to many small businesses right across our country.

There is a clear contrast with those opposite. They want to put up the company tax rate. They want to put it up to 31.5 per cent when they have been in this House opposing tax relief for small business. This morning we had the member for Higgins out there with an article in the Financial Review calling for lower corporate taxes, calling for lower taxes across the board, when the Leader of the Opposition is going to put the tax rates up. And the member for Higgins has been in this House opposing tax relief for small business.

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