Julie Collins (Franklin, Australian Labor Party, Minister for Small Business) Share this | Hansard source

I want to thank the wonderful member for Macquarie. The member for Macquarie has been a longstanding supporter of small business because, of course, she's been a small-business owner herself. She understands how important it is that we put downward pressure on inflation because of the input costs of small businesses.

We know that Australia's 2.5 million small businesses have been doing it tough, which is why we are providing targeted support in this year's budget. We know that they employ over five million Australians and, importantly, contribute half a trillion dollars to our economy each and every year. It's critical that they get the support that they need when we have those cost-of-living pressures. Indeed, it's laid out in our small-business statement, which is part of the budget. It's $640 million in targeted support for small businesses. It starts, of course, with a 12-month extension to the $20,000 instant asset write-off that hopefully those across the other side there will be supporting.

Oh, you want to spend more now? Is that what I've just heard from the shadow Treasurer over there? He wants to spend more! We're providing $290 million in cash flow support through this instant asset write-off, and, indeed, they'll be able to write off each asset, up to $20,000, in those businesses with an annual turnover of less than $10 million. So it is targeted because we do need to put downward pressure on inflation.

Of course we also have, as the Minister for Climate Change and Energy has said, energy bill relief for small businesses. Around a million small businesses will be getting additional energy bill relief, and, last time we had energy bill relief and support for small businesses, those opposite voted against it. It's another measure that small businesses can benefit from and that this time I hope those opposite are going to support, when small businesses need this targeted support. Around one million businesses will be getting an additional $325 to help them with their energy costs.

We also, very importantly, have extended for two years the financial counselling, mental health and wellbeing support for small businesses because we do know that they're doing it tough. That is $10 million for an extension of those services, including the Small Business Debt Helpline. Again, I would encourage small businesses who are in trouble and need support to contact them and to contact them early, and for those businesses that are having interactions with the Australian Taxation Office to do that.

What this shows is that we are supporting small businesses. There's also support for franchising and, importantly, to make sure that small businesses are paid on time. I want to see those opposite support all of these measures that the government is proposing for small business. (Time expired)

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