Melissa McIntosh (Lindsay, Liberal Party) Share this | Link to this | Hansard source

My question is to the Minister for Employment, Workforce, Skills, Small and Family Business. Will the minister update the House on how the Morrison government is going further in doing what works to secure and drive our economic recovery through continued support for Australian small businesses?

Stuart Robert (Fadden, Liberal Party, Minister for Employment, Workforce, Skills, Small and Family Business) Share this | Link to this | Hansard source

I thank the member for Lindsay for her question and all her hard work supporting 15,000 small business and family enterprises in her electorate. This budget is backing small business 100 per cent. To quote ASBFEO, the Australian Small Business and Family Enterprise Ombudsman:

The Federal Government's 2021 Budget is a clear acknowledgement that small and family businesses are central to the nation's economic recovery and future prosperity.

It goes on to say:

Tonight's budget represents a substantial financial and strategic commitment to making Australia the best place to start, grow and transform a business.

The Morrison government is backing in small business 100 per cent.

Right now, you'd be surprised to know, Cafe 7 at Paradise Point in my electorate have question time on because they want to hear how this government is backing small business in. That's what they want to hear and that's what Australian businesses want to know. All during the pandemic, the Morrison government has backed businesses in. Member for Lindsay, 5,800 of your businesses received JobKeeper, with 26,500 employees being supported. That's what the Morrison government has done for the seat of Lindsay. In terms of the tax-free cash flow boost, 5,200 of the member's businesses were backed in—$229 million paid.

The measures keep going. As the Prime Minister said, from 1 July the tax rate for small and medium enterprises drops down to 25 per cent. That means $16 billion worth of tax cuts flows through to small businesses between now and 2023-24. The Morrison government is providing $16 billion to small and family businesses and $129 million to encourage entrepreneurship through the New Enterprise Incentive Scheme. We don't need six-year-old innovative bits of rubbish to come forward when it comes to policy. This government is stepping up and backing business in.

The Morrison government is providing $1.2 billion in investment in the digital economy, 12 months extension for the government's instant asset write-off and of course the loss carry back—all that small business can use, backing in $16 billion worth of money in their pockets. There's a $10 billion guarantee of a reinsurance pool to cover cyclone and flood damage, which I know the member for Leichhardt has been backing in 100 per cent. We are backing small business in over the ATO. No longer will be the ATO be able to garnish and take away whilst a dispute is in train, because what this government is doing backing small and family businesses in. What small businesses know from this budget is they can trust the Morrison government to stand up and deliver for them.