Michael McCormack (Riverina, National Party, Minister for Small Business) Share this | Hansard source

Yes, Mr Chair, and certainly this small-business tax cut is so crucial. It is so crucial for our 3.2 million small businesses. It has a threshold up to $10 million turnover to allow a lowering of the company tax rate to 27.5 per cent. That is a company tax rate that will enable them to employ more Australians, to give that young Australian a go, to give that older Australian a crack at perhaps their first job in decades.

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