Monique Ryan (Kooyong, Independent) Share this | Link to this | Hansard source

My question is to the Minister for Small Business. Minister, the instant asset write-off is before the House at the moment. If it's not passed this week, the small businesses of Kooyong won't get that tax write-off. Do you commit that you will put it through the House today so that it can go to the Senate and so that the small businesses of Kooyong can benefit from this measure in this financial year?

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

I do thank the member for that question, and I understand her concern and her support for small businesses. We also want certainty for small businesses across Australia, which is why, of course, we introduced the legislation back in June—because we saw what those opposite did with the instant asset write-off last financial year, and we wanted to provide that certainty and support for small businesses.

What I can say to the member opposite is that, if those opposite want to commit to getting it through this financial year, we will see what we can do. But I would also say to the member opposite that they obviously can't be trusted in terms of the instant asset write-off. They played around with it last financial year, as I said. It only passed the parliament in the dying days of the last financial year. So, for this financial year, if they want to make a commitment that we can get it through speedily, we'll see what we can do.

More importantly, we are looking at ways that we can ensure we give small businesses the certainty that they need when it comes to the instant asset write-off and, of course, the targeted support that we are providing to small businesses.