Luke Howarth (Petrie, Liberal Party) Share this | Link to this | Hansard source

The coalition government is a government for small business—very much so. Just last year we announced possibly the best small business package Australia has ever seen. You would be well aware, Madam Deputy Speaker, of the coalition government's instant asset write-off for up to $20,000 for pieces of equipment that individual businesses may need.

I want to remind small businesses that this is ongoing. They can purchase new equipment for their business right now. Perhaps they need new solar panels to reduce electricity costs. They may need a new computer. They may need a water tank or a new vehicle. This is a great opportunity for businesses to go out and spend, stimulate the economy, buy the extra equipment they need and get an instant asset write-off. The previous threshold was $1,000, so $20,000 is a big jump and it will help businesses.

We have also reduced company tax rates. The company tax rate was 30 per cent and now it has come down to 28.5 per cent for businesses with less than $2 million in turnover. And we have also helped unincorporated businesses with a five per cent tax discount worth some $1.8 billion over the next four years of the forward estimates.

Since I was elected I have been visiting small businesses throughout the seat of Petrie on a regular basis to meet the owners and staff. I find it a great way not just to connect with business owners and to see what businesses are out there locally in my seat but also to connect with the staff and encourage them to do their best and keep working hard.

I have visited a number of businesses recently, including Performax International last Friday. They opened their first showroom at North Lakes. Performax International is Australia's biggest independent importer of American vehicles—Chevys and so forth. The headquarters are in Gympie, where they also have a factory to modify the vehicles from left-hand drive to right-hand drive, and they now employ a lot of local staff in my electorate of Petrie

I also had the opportunity to pop over and talk to Adam, from Civic Media, which is a large printer in the area. He is doing great things and he has seen massive growth in his business. We spoke about some of the challenges there.

And just last week the Prime Minister came up to Beefy's Pies, which has two sites in my electorate. Beefy's are using a new, innovative software program developed by four uni students who have a company called Tanda. They have a great product; it is a payroll product. I would encourage people to go out and get that product. It is a fantastic product, and it shows that young people with an innovative product can make a big difference. (Time expired)