Louise Markus (Macquarie, Liberal Party) Share this | Hansard source

The Omnibus Repeal Day (Spring 2014) Bill 2014 represents an unprecedented initiative of the government to cut $1 billion in red and green tape each year. This coalition government has gone further and more than doubled the target by announcing a net reduction of over $2.1 billion in compliance costs as a result of the 400 proposed measures. This repeal day is part of the coalition's plan to improve and strengthen our economy.

The economic action strategy of this government is indeed making progress. The mining tax has gone and the carbon tax has gone. The government's repeal of the carbon tax and the mining tax has not only reduced cost-of-living pressures and helped create jobs but also saved families and businesses in reduced compliance costs. The budget is bringing expenditure down and restoring the economy after the debt and deficit disaster of the previous Labor government. And continuing on from the autumn repeal day 2014, we are taking scissors to inefficiency and dissolving impediments to thriving business and beneficial reform.

Today, I am pleased to join with the coalition government to introduce legislation to repeal nearly 1,000 pieces of unnecessary legislation and regulations. We are talking about considerably reducing regulatory impediments that are harmful to productivity, deter investment and cost jobs. The Productivity Commission has estimated that regulation compliance costs could amount to as much as four per cent of Australia's GDP. The World Economic Forum Global Competitiveness Index ranked Australia 124th out of 148 countries for 'burden of government regulation' for 2014. That simply is not good enough. The government is doing something about this.

The business and wider community have communicated for some time and it is very clear in the economy that there needs to be a significant reduction in regulation to improve Australia's productivity and competitiveness. Many of these cuts will benefit the electorate of Macquarie, which is a major region for infrastructure investment, emerging small business, the stunning environment and tourism.

By creating public access to the centralised, online point of access for government services with the myGov account, we make possible a projected saving of $88 million per year. Five million Australians have so far created their myGov account. Similarly, the Australian Taxation Office's new online tax return service, myTax, will save over 1.4 million taxpayers $160 million a year in compliance costs by pre-populating tax returns. A one-stop shop for environmental approvals will save the community $426 million each year and provide an estimated economic gain of $120 billion over the next 12 years. An estimated 447,000 small businesses will benefit from a reduced tax compliance burden with administrative changes to GST and PAYG reporting. That is going to directly benefit small businesses in the electorate of Macquarie. Further, businesses with no GST payable will no longer be required to lodge a business activity statement, saving small businesses more than $67 million each year in compliance costs.

We are creating the Small Business and Family Enterprise Ombudsman, a national advocate which will also assist in the development of small-business friendly laws and regulations. Small business people around Macquarie, particularly family based businesses, have told me their stories of attempting to make ends meet while struggling with red and green tape. This is why the Commonwealth government is working each day to remove the red tape burdens for small business.

Following the autumn repeal day earlier this year, Jo Bromilow, President of the Blaxland and Districts Chamber of Commerce in my electorate of Macquarie, spoke positively about the optimism returning to small businesses as a result of removing the burden of unnecessary regulations. The chamber president highlighted how reducing the constant usage of paperwork allows small businesses to get on with the job of growing their business.

Small businesses play a significant role in our local regional and national economies. Ms Bromilow said, 'It is already apparent that the optimism is returning to small businesses, which will lead on to employment growth and investment in this crucial area of the economy'. Jo Bromilow, as a distinguished and experienced small business manager in my electorate, understands the positive impacts of reducing the constant usage of paperwork and red tape. Ms Bromilow said it allows small businesses to move forward. We are committed to ensuring small businesses can do more to benefit consumers, their businesses and our economy.

The NBN rollout is moving into full swing within the electorate of Macquarie, and currently many residents in South Windsor and Bligh Park localities are making the transition, with Richmond soon to follow. NBN customers can opt not to have a battery backup installed in their home or business, as many customers can use their mobile phone or generator during a power blackout, saving $21.1 million in compliance costs.

Local clubs and organisations registered as a company limited by guarantee in my electorate of Macquarie—who do so much for the community—and make less than $1 million in revenue, will no longer require an auditor. This was previously required even though audited financial reports were not.

There simply is not the time to list all that is being done with this bill today or all of the direct benefits for business, local organisations and the community at large. Continuing on from the repeal of over 9,500 regulations and 50,000 pages of legislation and regulation on the 2014 autumn repeal day—the largest bulk repeal in Australia's history—the government is repealing a further 256 regulations. This will do away with over $700 million of compliance costs. That is $700 million of taxpayers' money that can be reallocated elsewhere: to assist and grow small businesses, to grow tourism in the region, to invest in greater and increased infrastructure, and to help local organisations and communities to prosper. I am pleased to commend the Omnibus Repeal Day (Spring 2014) Bill 2014 to the House.

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