Jason Wood (La Trobe, Liberal Party) Share this | Link to this | Hansard source

My question is to the Minister for Revenue and Financial Services: will the minister update the House on why it's important to have a tax system that rewards all Australians, including in my electorate of La Trobe? Is the minister aware of any threats posed by alternative schemes?

Kelly O'Dwyer (Higgins, Liberal Party, Minister for Revenue and Financial Services) Share this | Link to this | Hansard source

I thank the member for La Trobe for his question. Like those on this side of the chamber, he knows that 94 per cent of Australians, under our Personal Income Tax Plan, will pay no more than 32.5 cents in the dollar, which means hardworking Australians will be able to keep more of the income that they earn. He also knows that we on this side of the chamber encourage enterprise. We believe in having an enterprise tax plan that will ensure that businesses in Australia will be able to—again—employ more Australians, invest more in their businesses, and remain competitive in our global economy. And it will allow businesses, including around 16,000 small and medium-sized enterprises in his electorate of La Trobe, to be able to grow, to invest and to pay their workers even more.

These are tax policies that reward hard work and aspiration. Those opposite used to believe in enterprise and aspiration, but, sadly, no more. They have a different view on these policies, because they voted against lower, simpler and fairer taxes for millions of Australians. And—thanks to an absolute cluster of a captain's call today from the Leader of the Opposition—they have confirmed that they will, in fact, roll back tax benefits for small and medium-sized enterprises, small and medium-sized enterprises that, by the way, employ around 1.5 million Australians. Do they not understand that small- and medium-sized enterprises make up 97 per cent of all businesses in this country? They are the hardworking engine room of our Australian economy. They consist of mechanics, restauranteurs, builders and car dealers. These are the small, medium-sized and family businesses that those opposite want to impose higher taxes on. According to the Leader of the Opposition, with his cluster of a captain's call today, they are apparently the top end of town. I can't believe it. These are the top end of town. He wants to hike taxes on these small, family-sized enterprises, he wants to hike taxes on the people they employ and he also wants to hike taxes on retirees with his mega retirees tax. Do they not understand that these are the hardworking people of Australia creating opportunity in our economy? They are the people that we should back and support. They are employing fellow Australians, yet those opposite would punish them. Only the coalition can be trusted to protect their interests. The Leader of the Opposition cannot be trusted.